GE Fanuc Embedded Systems, a unit of General Electric Co., has agreed to acquire Radstone Technology PLC, a designer of embedded computer products for defense and aerospace applications.
Radstone Technology shareholders will receive 410 pence per share payable in cash, for a total of approximately 130.4 million pounds.
Under the terms of the agreement, GE Fanuc Embedded Systems will acquire all of the issued and outstanding Common Shares of Radstone Technology. The transaction, which is subject to regulatory approvals, the approval of Radstone’s shareholders, and other customary conditions, is expected to close in the first quarter of 2007.
The combination of Radstone and GE Fanuc Embedded Systems will create an enterprise with improved capabilities to serve military and aerospace customers.
Radstone is headquartered in Towcester, UK and operates facilities in Milton Keynes and Bracknell in the UK, Ottawa, Canada and Billerica, Mass.