GE Acquires Remaining Stake in Industrial Software Firm Meridium
September 14 2016 - 4:29PM
Dow Jones News
By Tess Stynes
General Electric Co.'s (GE) digital unit acquired the remaining
stake in enterprise software company Meridium Inc. that it doesn't
already own, stepping up GE's capabilities in technologies that
help industrial customers use real-time data to improve their
operations.
GE initially acquired a 26% stake in Roanoke, Va.-based Meridium
in July 2014. The total enterprise value of the acquisition was
$495 million, including the initial investment, according to
GE.
The acquisition complements GE's asset-performance management
software offerings, which include cloud-based software and services
that aim to help customers better manage machine-generated,
equipment-monitoring data to meet production and performance goals
and to reduce operating risk.
The addition of Meridium will bring other capabilities and
processes focused on industries including oil-and-gas, power and
chemicals that complement GE's current lineup. Meridium's
asset-performance management products are already integrated into
GE's Predix platform.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
September 14, 2016 16:14 ET (20:14 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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