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GE Digital announced it has acquired Meridium, Inc., a global provider of asset performance management (APM) software and services for asset-intensive industries. This acquisition will help GE Digital accelerate its Industrial Internet portfolio by adding a comprehensive APM offering, which provides its customers with a solution that helps to unify real-time analytics with reliability-centered maintenance best practices, delivering a complete APM solution. Meridium customers will gain access to GE's experience 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 its Predix platform, GE's APM offering helps to deliver Industrial Internet solutions by enabling industrial companies to better maximize the reliability and availability of their industrial assets, while helping to minimize operational cost and risk. APM powered by Predix combines GE's experience in advanced asset-centric analytics, industrial software and services to offer a unique and comprehensive solution, helping its customers enhance their 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 helps to complement GE's existing offerings. The combination of the companies' technologies helps to strengthen the connection between real-time asset performance and reliability-centered maintenance strategies and work processes.
After GE's initial investment in Meridium, this acquisition was the next natural step in the relationship. APM has been a key area for GE Digital to expand the portfolio of products integrated into Predix, and Meridium's APM products are already integrated into the Predix platform. The transaction is complete.
Keywords: Asset Performance Management (APM), Asset-Intensive Industries, Real-Time Analytics, Reliability-Centered Maintenance, Advanced Industrial Analytics, Industrial Internet, ARC Advisory Group.