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SpatialNews Press Release
GE Completes Acquisition of Smallworldwide plc
Leading provider of spatial technology and network solutions to play a strategic
role in GE portfolio
Atlanta, GA (October 3, 2000) - General Electric Company (NYSE: GE) announced today that
it has acquired approximately 98% of the outstanding ordinary shares and ADSs of
Smallworldwide plc (Nasdaq: SWLDY) pursuant to a tender offer that expired on Monday.
Holders of Smallworld ADSs and ordinary shares which remain outstanding may tender their
shares during a subsequent offer period, which commences today and will expire at 9:30
a.m., New York City time and 2:30 p.m., London time, on Tuesday, October 31, 2000.
The acquisition of Smallworld increases GE’s presence as a provider of high-tech software
solutions in the utility and public systems industries, while establishing a strategic position in
the growing communications industry. Smallworld will operate as GE Smallworld and be a part
of the GE Energy management Services, a GE Power Systems business unit. GE Smallworld is
recognized for its spatial data software and applications for asset, outage, and work
management systems with over 750 utility customers around the world. In addition, GE
Smallworld has proven the versatility and strength of its spatial technology and software
through rapid product expansion and addition of 120 customers in the telecommunications,
broadband and Internet industries.
Robert L. Nardelli, President and CEO of GE Power Systems, stated, “We are very excited to
have the talented people and expert technology of GE Smallworld as part of our GE family.
Now, with the strength of GE Smallworld, we are positioned to provide some of the most
advanced software for assisting customers in designing and managing their networks as
they continue to strive for improved productivity and service reliability.”
Warren Ferguson, President and CEO of GE Smallworld, stated "We are very pleased with this
acquisition, which truly represents a win-win situation for all of us – our customers, our
employees, and our shareholders. With the global reach, financial resources, and
unmatched commitment to excellence of GE behind us, we are uniquely positioned to deliver
on our vision that our software designs and manages the world's networks." Dick Newell,
previous Chairman and new Chief Technology Officer for GE Smallworld, commented, “The
fact that GE, one of the most recognized and admired companies in the world, would acquire
us confirms Smallworld as the preeminent choice in the market for spatial technology. I’m
proud that Smallworld has become part of the GE family.”
Steve Bolze, President and General Manager of GE Energy Management Services,
commented, “GE Smallworld is a powerful company with a talented, enthusiastic team and
solid, innovative technology that clearly delivers results for customers around the globe. The
addition of GE Smallworld dramatically expands our portfolio of high-tech software, sensors,
and systems to meet the demanding needs of the energy and communications
marketplace. In addition to GE Smallworld’s presence in the utility and public systems
industries, we are equally excited about two notable achievements at GE Smallworld – first,
the acquisition of the Spatial Services division of Navigant Consulting and second, the strong
revenue growth and customer position gained by Smallworld’s Communications group.”
GE is one of the world’s largest diversified services companies as well as a provider of
high-quality, high-technology industrial and consumer products. GE consists of more than
three dozen major businesses operating in 100 countries around the globe. From GE Power
Systems to GE Plastics or GE Capital to NBC, the company is committed to expanding the
services and technologies delivered to its global customer base through strategic initiatives
in globalization, Six Sigma quality, product services and e-Business.
GE Power Systems is the largest business unit of GE and is a leading global supplier of
power generation technology, energy services, and energy management systems. Through a
series of acquisitions and alliances, GE Power Systems has expanded its portfolio of
products, services and software solutions to serve global customers. Recent acquisitions of
rental equipment and industrial water treatment businesses demonstrate this commitment
to serve the energy industry as well as a broader range of industries including
telecommunications, entertainment, and high-tech manufacturing.
As a technology leader, GE Smallworld will continue to provide spatial technology and
network software products to utility, public systems, and communications customers around
the world. GE Smallworld products model real world assets and services, enabling companies
to understand where their facilities and customers are located and how they are connected to
the network, while seamlessly integrating this information across the enterprise. In addition
to software products, GE Smallworld provides rapid implementation and integration of GE
Smallworld unique object-oriented technology and vertical industry solutions, which can
increase revenues, improve customer service, and increase asset utilization for their
customers. GE Smallworld has more than 870 customers in 43 countries around the world.
Contact:
Ellen Klee
(770) 859-7384
ellen.klee@ps.ge.co
Chad Morris
Smallworldwide plc
+1 (303) 779 6980
Chad.Morris@Smallworld-us.com
Jeff Ignaszak
(770) 859-7650
jeffrey.ignaszak@ps.ge.com
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