GE acquires Finnish security manufacturer
PLAINVILLE, Conn. - General Electric marked yet another technology acquisition in late July, announcing it bought Finnish company Saferex Oy, a manufacturer of a wide range of electronic security products.
Terms of the transaction were not released, but according to GE officials the two companies were familiar with one another with GE Interlogix providing Saferex Oy with products for a number of years.
The deal comes on the heels of GEÃ¢â‚¬â„¢s acquisition of Kampro Technology, a Taiwan-based maker of image sensing technology. That acquisition provided GE Interlogix with high-resolution and harsh environment technologies for its surveillance systems.
Ken Boyda, president and chief executive officer of GE Interlogix, expects the transaction will enable Saferex Oy to provide a broader array of security products to the Finnish market. The Helsinki, Finland based company makes fire, access control and video surveillance systems.