Genrad Acquires Industrial Computer Corporation; Creation Of GR Software Business Unit Raises Bar In MES Market.WESTFORD, Mass.--(BUSINESS WIRE)--April 7, 1998--GenRad, Inc. (NYSE NYSE See: New York Stock Exchange :GEN) today announced the acquisition of Industrial Computer Corporation (ICC ICC See: International Chamber of Commerce ), Inc., the leading manufacturing execution system – Manufacturing execution system (MES) describes a set of integrated functions within a packaged software system or it can also describe the accumulated functionality within the production management infrastructure of a manufacturing or production company. (MES (Manufacturing Execution Software) Software that provides real time access to plant activities that include equipment, labor, orders and inventory. An MES integrates the data with enterprise resource planning (ERP) systems so that management has complete control of ) solutions provider to the electronics industry. The acquisition of the Atlanta-based company, in a transaction valued at $36.6 million, solidifies GenRad's presence in the MES market, a critical component in its overall strategy to serve the electronics industry across the full design-build-service product life cycle. Frank Wingate, previously President of ICC, has been named President of the newly created GR Software business unit, consolidating all manufacturing application development in one operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon . GR Software is comprised of the ICC acquisition, GenRad's Mitron subsidiary in Portland, OR, and the Global Software Development Group, located at corporate headquarters in Westford, MA. Mr. Wingate will report directly to James F. Lyons, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GenRad, Inc. "The acquisition of ICC fully extends GenRad's strategic reach in electronics manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. from its strong base in printed circuit board assembly solutions," said Sarah Lucas Sarah Lucas (born Holloway, London, 1962) is a contemporary British artist. One of the leading figures in the generation of young British artists who emerged during the 1990s, she has gained an international reputation for provocative works that frequently employ coarse visual puns and a , GenRad Vice President, Chief Strategic Officer. "Global electronics manufacturing is increasingly driven by product and process innovation and improvement across the full product life cycle. And with the creation of GR Software, GenRad has the ability to deliver a comprehensive IT infrastructure for electronics manufacturers for rapidly translating data into strategic knowledge across the enterprise." "GR Software is poised for success because we know our market and are singularly focused on meeting the information needs of our customers," said Frank Wingate. "The presence of GR Software -- by virtue of GenRad's good name and resources -- brings new scale to the MES market through our expanded ability to serve it." "GenRad's acquisition of ICC and the creation of GR Software is great news for the electronics manufacturing industry," said Mike Cahoon, Vice President and Chief Information Officer for AVEX AVEX Audio Video Exchange AVEX Audio Video Extraction Electronics Inc., a valued customer of both firms. "I have a high opinion of ICC because of the quality of its software and its focus on care for the customer. GenRad has a very dynamic vision, where it understands the needs of the shop floor. Combining the two together forms a powerful software company focused clearly on meeting the needs of electronics manufacturing." "The electronics assembly market provides tremendous opportunity for a strong MES player," said Tony Friscia, President of Advanced Manufacturing Research (AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. ), the Boston-based industry research firm. "ICC has proven itself focused with a strong product for this segment. And now with GenRad's resources and commitment behind GR Software, we anticipate a real advance in the service and penetration of this critical MES space." ICC, headquartered in Atlanta, GA, develops and markets real-time manufacturing execution systems for discrete manufacturing Fabricating products by assembling components and subsystems into larger systems. The automated assembly line is the prime example of discrete manufacturing such as in the making of automobiles, household appliances and computer systems. environments, focused primarily on the electronics and aerospace/defense industries. MES enables manufacturers to effectively reduce cycle-times and costs; improve quality and yields; provide production flexibility, and complete product/component traceability. ICC's flagship product, Shop Floor Data Manager (SFDM SFDM Syphon Filter Dark Mirror (game, Sony) SFDM San Francisco, del Monte (Quezon City, Philippines) SFDM School of Film and Digital Media SFDM Shop Floor Data Management ), is a highly scaleable, workflow-enabled MES solution, capable of virtual 100 percent uptime performance. ICC provides multi-national development, implementation, and support. ICC's clients include numerous Fortune 500 companies, with over 10,000 concurrent users worldwide. Mitron, a subsidiary of GenRad, Inc., headquartered in Portland, Oregon, provides electronics OEMs and their customers with world-class software and services designed to accelerate product introductions, optimize throughput, and improve process management from design to manufacturing. GenRad Background GenRad, Inc. provides electronics OEMs and their customers with the hardware, software, inspection systems and services to optimize design, manufacturing and after-market service productivity. GenRad, headquartered in Westford, MA, offers products and services through three business units: Advanced Diagnostic Solutions (ADS), Electronic Manufacturing Systems (EMS), and GR Software (GRS GRS Graduate School (universities) GRS Great Red Spot (feature of Jupiter) GRS Gender Reassignment Surgery GRS Gamma Ray Spectrometer GRS Graduation Rate Survey GRS General Records Schedules ). GenRad employs approximately 1,400 people worldwide, of whom 35 percent are applications, software and hardware engineers. GenRad's Internet address is http://www.genrad.com. -0- GenRad's most current shareholder information is available by visiting our Website at http://www.genrad.com or calling our Fax On Demand Service at (800) 469-1261. Statements made in this press release which are not historical, including statements regarding product demonstration, product capabilities and markets are forward looking statements and as such are subject to a number of risks. Please see the Company's 1996 Annual Report or Form 10K and other reports filed pursuant to the Securities Exchange Act of 1934 for additional disclosure regarding such risk factors. CONTACT: GenRad, Inc. Walter A. Shephard, 978/589-7440 shephardwa@genrad.com or Nancy A. Miller, 978/589-7144 millern@genrad.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion