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GE and Fanuc have agreed to dissolve their GE Fanuc Automation Corporation joint venture, freeing each company focus on growing its existing business and pursuing its respective core industry expertise. The companies expect to complete the transaction by the end of this year, subject to customary closing conditions.

The agreement stipulates that GE, which will be known as GE Intelligent Platforms, will retain the global software, embedded systems and control systems businesses, while Fanuc will retain the global CNC business.

Established in 1986 by a joint investment from the two companies, GE Fanuc Automation Corporation serves industries including energy; water; consumer packaged goods; government and defense; and telecommunications. The partnership delivers hardware and software solutions, services, automation, embedded computing systems and CNC products.

Fanuc Honorary Chairman Dr. Seluemon Inaba notes that although the two companies have achieved “great success” toward their original mission to cooperate on growing and developing the PLC and CNC business, both have further expanded into adjacent segments amid dramatic industry changes during the course of their 23-year partnership. “Today’s market conditions are such that it’s imperative we pursue these expanded opportunities,” he says. “While we have achieved great things together, it’s in both our best interests to focus our efforts on industry opportunities unique to our respective companies and that will deliver greater benefits to both our companies.”

“GE could not have a asked for better partners than Dr. Inaba and Fanuc,” says GE Fanuc Intelligent Platforms CEO Maryrose Sylvester, who will head the new GE Intelligent Platforms company. “GE is proud of what our companies have achieved together—both the industry expertise and success across our product portfolios. “For GE, this change will mean a continued, intense focus on serving our customers around the world while continuing to invest in significant growth platforms like process control systems, enterprise and automation software and embedded computing as we continue to build further expertise around the GE vertical infrastructure segments.”

Ms. Sylvester adds that the top priority is making the transition as smooth as possible to provide continuity for all customers, business partners and employees.