GE wraps up IFS acquisition
May 1, 2003
NEWTON, Conn. - GE Industrial Systems finalized its acquisition of fiber optic technology company International Fiber Systems this week, a deal expected to expand GEÃ¢â‚¬â„¢s expertise in the transmission of video, data and signals over fiber optics.
Plans call for IFS to become a subsidiary of GE Interlogix, the companyÃ¢â‚¬â„¢s security division which includes brand names such as Kalatel, ITI, Casi, Sentrol InfoGraphic Systems and Fiber Options.
Terms of the transaction were not released, but IFS, a privately held company, has reported double digit growth over the last five to seven years as the demand for fiber-based transmission systems increased.
The acquisition follows a string of purchases by GE in the security market. The company entered the security industry a year ago with its acquisition of holding company Interlogix, one of the largest manufacturers in the industry. Since then, GE has expanded its reach rapidly through a number of key acquisitions, such as purchasing access control company InfoGraphic Systems and fire manufacturer Kilsen, which is based in Spain.
Security industry analysts have said that GE is willing to invest heavily in the markets it enters to become the top player.