This week, GE and Fanuc Ltd. of Japan announced that the two companies have agreed in principle to dissolve the GE Fanuc Intelligent Platforms joint venture. For more than 20 years, GE Fanuc has successfully served customers in multiple industries and evolved with the changing landscape therein.
Today, GE Fanuc is taking on new challenges in many new market segments and those have replaced some of the original synergies from the time we founded our joint venture. As separate companies both GE and FANUC will be able to increase their focus on the unique needs of customers and provide a sustainable advantage in their industries.
Under the terms of the agreement:
- GE retains the software, embedded systems and control systems businesses globally, as well as services for the Americas CNC portfolio.
- FANUC retains the global CNC business.
It is expected that this transaction will be completed by the end of this year, subject to satisfactory customary closing conditions. Once complete the business will operate under the new name GE Intelligent Platforms. There will be updates on further details upon close of the transaction.
GE is committed to a "customer first" ethic and will continue to provide leading solutions to support automation, embedded computing and services needs.