ROANOKE (WSLS 10) – GE Digital announced on Wednesday that it has acquired Meridium, Inc., a global leader in asset performance management (APM) software and services for asset-intensive industries.
The 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.
On the flip side, 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.
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.
“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.