GE Digital acquires Meridium to enhance asset performance management software
GE Digital has acquired Meridium, Inc., a developer of asset performance management (APM) software and services for asset-intensive industries. 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.
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.
In July 2014, GE made an initial investment in Meridium for a 26% stake in the company. The total acquisition, inclusive of the original investment, was executed for an enterprise value of $495 MM.
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.
“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.
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