GE Digital Acquires Meridium, Inc., to Accelerate Delivery of Comprehensive Asset Performance Management Offering for Customers
September 14 2016 - 2:30PM
Business Wire
Integration of Meridium’s offerings into GE’s
Predix platform gives customers greater access to market-leading
APM capabilities; enables more rapid realization of Industrial
Internet value
GE Digital (NYSE: GE) today announced it has acquired Meridium,
Inc., a global leader in asset performance management (APM)
software and services for asset-intensive industries. As an
established Industrial Internet leader, this acquisition will help
GE Digital accelerate its comprehensive APM offering and provide a
solution to customers that unifies real-time analytics with
reliability-centered maintenance best practices, delivering a
complete APM solution. Meridium customers will gain access to GE’s
deep domain expertise in real-time data management and advanced
industrial analytics.
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.
Leveraging the Predix platform, GE’s APM offering helps deliver
on the promise of the Industrial Internet by enabling industrial
companies to maximize the reliability and availability of their
industrial assets, while minimizing operational cost and risk. APM
powered by Predix combines GE’s broad expertise in advanced
asset-centric analytics, industrial software and value-added
services to offer a unique and complete solution, helping customers
deliver targeted asset uptime and performance.
The addition of Meridium’s enterprise software solutions brings
additional capabilities and processes focused on asset-centric
industries – such as oil & gas, power and chemicals – that
complement GE’s existing offerings. The combination of the
companies’ technologies helps strengthen the connection between
real-time asset performance and reliability-centered maintenance
strategies and work processes.
“As we forge ahead in the Industrial Internet journey, APM is
clearly the first application that can leverage the Predix platform
to help industrial customers benefit from increased productivity,”
said Bill Ruh, CEO, GE Digital. “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. Meridium
also has a mature software development culture, which will help us
enhance our bench of deep technology talent.”
“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, Founder and CEO, Meridium. “We are
excited to join GE Digital and expand Meridium’s capabilities into
more industries.”
After GE’s initial investment in Meridium, this acquisition is a
natural step in the relationship. As a key area GE Digital plans to
expand rapidly on Predix, Meridium’s APM products are already
integrated into the Predix platform. The transaction is
complete.
ABOUT GE DIGITAL
GE Digital connects streams of machine data to powerful
analytics, providing Industrial companies with valuable insights to
manage assets and operations more efficiently. World-class talent
and software capabilities driving big gains in productivity,
availability and longevity. For more information, visit the website
at www.ge.com/digital.
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version on businesswire.com: http://www.businesswire.com/news/home/20160914006189/en/
GE DigitalAmy Sarosiek, +1-224-239-6028amy.sarosiek@ge.com
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