GE to buy Naxys

Boston, August 10, 2012 — GE entered into an agreement to acquire Naxys, a provider of subsea leak detection and condition monitoring sensors based on passive acoustic technology.

The acquisition, which is subject to regulatory approval and other customary closing conditions, further expands GE's monitoring and sensing solutions and will be part of the company's measurement and control business. Headquartered in Bergen, Norway, Naxys employs 31 people.

The addition of Naxys will expand GE's sensing and condition monitoring offerings and extend its reach into the subsea space for energy customers around the world.

Naxys develops and supplies leak detection and condition monitoring sensors based on proprietary, passive acoustic hydrophone technology. The design of the sensing element enables extremely sensitive and accurate measurement of subsea acoustics. Naxys' products allow operators to monitor the integrity of their subsea installations.

On August 1, GE's Measurement & Control business acquired PRESENS, a provider of pressure, temperature and flow measurement solutions for efficient operation of subsea equipment. GE's Measurement & Control business is based in the greater Boston area.

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