GE has announced that its Gas Power business intends to acquire Nexus Controls, a Baker Hughes business specialising in aftermarket control system upgrades and field services to create a single, full-service controls business within GE. Following closure, the proposed integrated business would develop the future of GE’s proprietary Mark Vle controls systems platform for design retrofit and modernisation offerings, and ‘streamline and improve the delivery and service of controls in power generation’. The financial terms of the acquisition have not been disclosed.
The planned acquisition is intended to combine into a single organisation Nexus Controls’ aftermarket control system upgrade capability and controls field services, complementing the existing Gas Power Mark Vle systems, as well as application software design capability. GE will continue to provide Baker Hughes with Mark VIe controls products, as Baker Hughes is the exclusive distributor and service provider of these products for the controls incorporated in Baker Hughes’ oil & gas fleet. The two businesses will continue to operate independently until deal closure. GE plans to continue developing its Mark VIe controls product line as well as other related products.
The deal, which is subject to customary closing conditions including regulatory approval and mandatory information and consultation processes with employees and their representatives, is expected to close in the second quarter of 2023.