GE Digital recently announced that it has acquired Meridium Inc., a global leader in asset performance management (APM) software and services for asset-intensive industries.
In July 2014, GE made an initial investment in Meridium for a 26-percent stake in the company. The total acquisition, inclusive of the original investment, was executed for an enterprise value of $495 million.
The acquisition is expected to accelerate GE Digital's APM offering and provide a solution that unifies real-time analytics with reliability-centered maintenance best practices. Meridium customers will gain access to GE's domain expertise in real-time data management and advanced industrial analytics.
"With Meridium joining the GE Digital family, we can immediately complement our existing portfolio with the Meridium expertise in cognitive analytics, reliability-centered maintenance, operational risk management and asset health, as well as intelligent asset strategies," said Bill Ruh, CEO of GE Digital. "Meridium also has a mature software development culture, which will help us enhance our bench of deep technology talent."
The addition of Meridium's enterprise software solutions will provide additional capabilities and processes focused on asset-centric industries, such as oil and gas, power and chemicals, that complement GE's existing offerings. The combination of the companies' technologies should also help strengthen the connection between real-time asset performance and reliability-centered maintenance strategies and work processes.
"This move gives Meridium access to GE's substantial industrial portfolio and provides a deeper connection to core industrial businesses and GE's depth of domain expertise in the industrial internet," said Bonz Hart, Meridium founder and CEO. "We are excited to join GE Digital and expand Meridium's capabilities into more industries."
For more information, visit www.ge.com/digital.