HUNTSVILLE, Ala.--(BUSINESS WIRE)--Abaco Systems, an industry-leading supplier of sophisticated, open architecture electronic systems for aerospace, defense and industrial applications, today announced its separation from the General Electric Company (GE), opening a new chapter in the company’s history.
“This is a momentous day for Abaco Systems,” said Bernie Anger, president and CEO of Abaco Systems. “Today, we start the next stage in our company’s future – pursuing a strategy focused on satisfying the needs of customers looking for high-performance embedded technology and systems that can withstand the harshest of conditions. I am very proud of our team who has prepared us for this day, and extremely thankful for the support that we have received from our customers during the transition process.”
“As an independent embedded technology and systems company,” continued Anger, “we see real opportunity to take our extensive experience, mission-critical technology and the repeatable business processes we have developed to continue building a business that combines a commitment to technical innovation with extreme focus on customer service. The company is positioned to benefit from long-term market trends, including shifts towards open architecture, interoperable systems, smarter purchasing initiatives and technological modernization.”
Customers have been notified of the change in ownership and have welcomed the news of the new Abaco Systems. Feedback from customers has been extremely positive:
“Thanks for letting us know about the GE transition to Abaco Systems,” said Rance Myers, Director of Engineering at Honeywell Aerospace. “We’re looking forward to the continued relationship and working with Abaco as we progress forward on new projects.”
“SNC is a long-time customer of the GE team and is very excited that they are moving to this new phase in their business,” said Greg Cox, Vice President, CNS at Sierra Nevada Corporation. “It demonstrates the strength of this cohesive team and we look forward to working with them in their new structure.”
Veritas Capital, a leading private equity firm that invests in companies that provide critical products and services to government and commercial customers worldwide, acquired Abaco Systems from GE. One customer noted the strength of the Veritas reputation:
“My staff was particularly pleased that Veritas acquired GE’s embedded computing business, because Veritas apparently has such an ‘active’ interest in the GE products,” said Dr. Mark Gaertner, Manager, Bomber Programs, Northrop Grumman Corporation. “That’s good for NGC and the USAF, because we need stability in our products and suppliers for programs that stretch out over the next 25+ years. We look forward to continuing our relationship.”
“The good news for our customers is that, from day one, it is business as usual,” concluded Anger. “They will continue to deal with the people they have always dealt with, re-energized by an opportunity to really make a difference.”
About Abaco Systems
Abaco Systems is a global leader in open architecture computing and electronic systems for aerospace, defense and industrial applications. Spun out of General Electric in 2015, we deliver and support open modular solutions developed to upgrade and enhance the growing data, analytics, communications and sensor processing capabilities of our target applications. This, together with our 700+ professionals’ unwavering focus on our customers’ success, reduces program cost and risk, allows technology insertion with affordable readiness and enables platforms to successfully reach deployment sooner and with a lower total cost of ownership. With an active presence in a significant number of national asset platforms on land, sea and in the air, Abaco Systems is trusted where it matters most. www.abaco.com
About Veritas Capital
Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services to government and commercial customers worldwide including those operating in aerospace & defense, healthcare, technology, national security, communications, energy and education. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas Capital and its current and past investments, visit www.veritascapital.com.