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GE Digital announced it has acquired Meridium, Inc., an asset performance management software company, for an enterprise value of about $495 million.
According to GE, the purchase is complete.
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 domain expertise in real-time data management and 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 expertise in asset-centric analytics, industrial software and services to offer a 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 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.