GE Fanuc to Acquire VMIC | Automation.com

GE Fanuc to Acquire VMIC

July 5, 2001


CHARLOTTESVILLE, Va. * GE Fanuc Automation North America, Inc. today
announced it has signed definitive agreements to acquire Huntsville,
Ala.-based VMIC, a manufacturer of embedded single board computers,
high-performance communications and data acquisition and control products,
for open-architecture buses used in industrial automation, fibre channel
storage area networks (SAN), defense, medical, and test and measurement
segments.

Under the agreement, VMIC will become a wholly owned subsidiary of GE Fanuc.
The agreement is subject to approval of various government regulatory
bodies. The acquisition is expected to be consummated by September. The
two companies have worked closely for a number of years through various
joint developments and private branding arrangements.

"We are very excited about the growth opportunities this deal offers. With
VMIC's world-class technology and complementary presence in new segments, we
believe we can provide superior solutions to global customers," said Lorrie
M. Norrington, GE Fanuc president and CEO. "Clearly we're delighted to have
VMIC as part of the GE family."

Carroll E. Williams, VMIC president, CEO and chairman, said, "By joining
with a world leader in automation technology, VMIC will increase its
presence and gain access to GE Fanuc's and GE's full range of global
services and products. This will allow us to continue our strong growth in
our core segments while expanding into new areas."

GE Fanuc Automation is a leading global supplier of industrial control
systems and is a joint venture between GE and FANUC, Ltd. of Japan.
Headquartered in Charlottesville, Va., GE Fanuc is part of GE Industrial
Systems, a $6 billion global leader in manufacturing products used to
distribute, protect and control electrical power and equipment, and
supplying product and service solutions for commercial, industrial,
residential and utility applications. GE Industrial Systems is one of GE's
major businesses. GE Fanuc products and services include CIMPLICITY®
industrial automation software, nano to high-end PLCs, a wide range of CNCs,
motion control systems, operator interfaces, industrial computers, CO2 and
YAG lasers, and a wide range of integration and customer support services.

VMIC specializes in providing embedded computer products for
open-architecture buses such as CompactPCI (CPCI), VMEbus, PCIbus, PMC,
Multibus, and PC-MIP. The company's product lines include: Single Board PC
Computers (CPUs), communication/network products such as Reflective Memory
Networks, Fibre Channel and SCSI Host Adapters, gigabit Ethernet, and data
acquisition and control products such as Analog and Digital I/O, Distributed
DIN I/O, software drivers, and PC-Based I/O systems.
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