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News Release MAPFRAME ANNOUNCES PLANS TO JOIN FORCES WITH GE ENERGY MapFrame shareholders and GE Energy sign purchase agreement for GE Energy to acquire MapFrame Dallas, TX (June 11, 2008) – MapFrame Corporation announced today that its shareholders and GE Energy have signed a purchase agreement enabling GE Energy to acquire MapFrame. The transaction, which is subject to customary closing conditions, is expected to close at the end of June. Combining MapFrame’s expertise with GE Energy’s worldwide reach, the acquisition will offer global customers a more comprehensive product line of mobile mapping and field automation technologies, significantly enhancing the GE Energy smart grid portfolio. “Our innovative mobile mapping and field automation technologies including our FieldSmart software are an excellent fit with GE Energy’s Smallworld portfolio and other geospatial solutions,” said Paul Wilson, MapFrame founder and chief executive officer. “The acquisition is extremely positive news for all our customers and provides us with significant opportunities to further our solid reputation for worldclass products and services. As with GE Energy, we are dedicated to our customers and will continue to support all current customer projects, all platforms, and all partnerships. Our unique capability to work with any technology will also not change.” Mobile mapping and field automation technologies enable utilities to boost their productivity by automating field-based business processes through a map-centric user interface. According to Martin Ansell, general manager of GE Energy’s Smallworld business, “This new, fast moving and rapidly growing technology segment is highly complementary to GE’s Smallworld business and consistent with our smart grid strategy. MapFrame’s employees bring a wealth of experience in mobile mapping and field automation solutions and will be a welcome addition to our Smallworld business team.” About MapFrame With over 35,000 end-users, MapFrame Corporation leads the industry in developing mobile mapping technology and field automation processes for utility, telecom, cable and broadband organizations. More than just a map viewer, MapFrame's Enterprising Solutions™ integrate data from core systems such as GIS, CIS, dispatch and work management in a single, easy-to-use field automation package. Unique compression and data flow capabilities allow organizations to extend back office data, including the entire GIS, into the field and throughout the enterprise. MapFrame's FieldSmart software brings greater efficiency to the field, providing workers with fast access to the latest maps and customer information in both wired and wireless environments. Updates made both in the office and from the field are automatically downloaded on a daily basis, reducing mistakes and improving productivity. FieldSmart applications include View, Route, Secure, Sketch, Inspect, Plot, Repair, Design, Connect and Field Flow Manager. More information is available at www.mapframe.com. About GE Energy GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2007 revenue of $22 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges. About GE GE is Imagination at Work--diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing and media content, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com. # # # Press Information: Britton K. Cronin, MapFrame email: Click here tel: 214.741.2264 General Information: Click here |
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