GE Acquires PRESENS, Norway-Based Supplier of Industrial Sensors

GE Acquires PRESENS, Norway-Based Supplier of Industrial Sensors
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Deal Expands GE’s Portfolio of Measurement & Control Solutions
Companies Share a Commitment to Technology and Innovation
BILLERICA, MASS. – August 1, 2012 – GE (NYSE: GE) today announced the acquisition of PRESENS, a
provider of pressure, temperature and flow measurement solutions. The acquisition expands GE’s
portfolio of sensing solutions and will be part of the company’s Measurement & Control business,
within GE Oil & Gas. This acquisition will enhance GE Oil & Gas presence in Norway and will allow
customers of both companies to benefit from an innovative and integrated technology offer.
Headquartered in Oslo, Norway, PRESENS employs 36 people in total and provides high-performance
sensors, specializing in high-pressure measurements and severe environments.
“The sensors expertise PRESENS brings to our portfolio is a natural fit. We share a commitment to
technology and innovation” said Brian Palmer, president and CEO of GE Measurement & Control and
vice president of GE Energy. “We are building an integration strategy that will capitalize on both
companies’ existing expertise, with a focus on the combined talent that we have.”
The addition of PRESENS will expand GE’s core energy offerings and extend its reach into adjacent
offerings for energy and industrial customers around the world. The deal is the latest in a series of
acquisitions over the last 10 years that has spurred growth in GE’s Measurement & Control business.
“While very different in scale, these two companies both bring outstanding innovation to bear,” said
Frode Meringdal, CEO of PRESENS. “GE’s global presence provides PRESENS with the opportunity to
introduce our solutions to a worldwide customer base.”
PRESENS develops and supplies pressure sensor solutions based on proprietary, patented technology.
The design of the sensing element enables extremely accurate and stable measurement of pressure
and temperature. The sensors generate highly reliable data that is an ideal input for advanced
monitoring and control systems, allowing them to operate to their full potential.
GE’s Measurement & Control business is based in Billerica, Mass. It is a leading innovator in sensorbased measurement, inspection, asset condition monitoring, controls and radiation measurement
solutions that deliver accuracy, productivity and safety to customers in a wide range of industries,
including oil & gas, power generation, aerospace, transportation and healthcare. The business is part
of GE Oil & Gas and has more than 40 facilities in 25 countries worldwide.
About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the
toughest challenges. Finding solutions in energy, health and home, transportation and finance.
Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more
information, visit the company's website at www.ge.com.
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GE
July 18, 2012
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For more information, contact:
M.B. Hodgkiss
GE Energy
+978 437 1272
[email protected]
Fabio Pianini
GE Oil & Gas
+39 055 423 8872
[email protected]
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GE
July 18, 2012
Ken Darling or Kate Culman
Masto Public Relations
+1 518 786 6488
[email protected]
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