GE Digital (GE) Acquires Meridium; Deal Value at $495M
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GE Digital (NYSE: GE) 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.
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