GE embedded will be called Abaco Systems
As many of you know GE announced it was selling its embedded business to Veritas capital, a venture capital firm in New York City earlier this fall and the organization of about 700 employees would form a new company in January, 2016. Company officials say the deal is expected to close soon, but in the meantime they have announced their new name…. Abaco Systems.
No details have yet come out on why Abaco, but quick research on the web found Abaco to be the Spanish translation of Abacus, an ancient tool for doing arithmetic. It is also a group of islands in the Bahamas, but I highly doubt Abaco Systems will be packing their bags and leaving Huntsville for the tropics.
To learn more about the acquisition, read my blog on it here.
Company officials say the deal should close later this month on Nov. 23 and we expect more details will follow that announcement. In the meantime here is their logo:
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