MARCH 23--GE Fanuc Embedded Systems (Huntsville, AL; www.gefanuc.com) has acquired SBS Technologies (Albuquerque, NM; www.sbs.com), a designer of embedded computer products for OEMs. Pursuant to the transaction, SBS Technologies shareholders will receive $16.50/share payable in cash, for a total consideration of approximately $215 million, net of SBS Technologies' cash and equivalents.
The combination of SBS Technologies and GE Fanuc Embedded Systems will offer a line of products ranging from embedded boards in multiple form factors, bus architectures, and fabrics to integrated systems in a range of environmental grades.
SBS Technologies designs and builds single board computers, communications and networking modules, and complete systems. SBS products are designed to open standards such as Compact PCI (CPCI), VME, PCI, PCI-Express, PMC, and PC/104.
"This transaction will benefit both SBS Technologies' customers and GE Fanuc Embedded Systems' customers," says Clarence Peckham, CEO of SBS Technologies. The combined company will have approximately 900 employees worldwide, 250 of whom are engineers.
Under the terms of the agreement, GE Fanuc Embedded Systems will acquire all of the issued and outstanding Common Shares of SBS Technologies. The transaction, which is subject to regulatory approvals, the approval of SBS Technologies' shareholders, and other customary conditions, is anticipated to close in the third quarter of 2006.