Asset performance management company acquired
GE Digital (NYSE: GE) has acquired Meridium, Inc., which specializes in asset performance management (APM) software and services for asset-intensive industries. This acquisition is intended to help GE Digital accelerate its APM offering and provide customers with real-time analytics with reliability-centered maintenance best practices. Meridium customers will gain access to GE’s real-time data management and advanced industrial analytics. 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 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. The addition of Meridium’s enterprise software solutions brings additional capabilities and processes focused on asset-centric industries such as oil and gas, power, and chemicals. The combination of the companies’ technologies helps strengthen the connection between real-time asset performance and reliability-centered maintenance strategies and work processes.
– Edited from a GE Digital press release by CFE Media. See more Control Engineering diagnostic and asset management stories.