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On September 14th, GE Digital announced it acquired asset performance management (APM) software leader, Meridium, Inc. According to the press release, “this acquisition will help GE Digital accelerate its comprehensive APM offering and provide a solution that unifies real-time analytics with reliability-centered maintenance best practices, delivering a complete APM solution”. For industry watchers, the announcement was not a total shock given that GE made an initial investment in Meridum in July 2014 for a 26 percent stake in the company. Including the initial investment, total acquisition price is $495 million.
In an interview with Jeremiah Stone, General Manager of GE’s Asset Performance Management business unit and Don Richardson, Meridium Strategic Alliance Director, Stone stated that customers wanted to accelerate what the partners were already doing. He believes that the complementary nature of the product portfolios will result in the most comprehensive predictive maintenance offering in the marketplace. Richardson expressed Meridium’s desire to continue to continue to service the customer stating that heterogeneous plants need a common APM collector. This is consistent with ARC research findings that end users prefer a unified systems approach to asset management as opposed to point solutions.
The complementary nature of the product portfolios of GE Digital and Meridium is expected to provide operational risk management in a unified system. As partners, they already have a jump on solution integration efforts having launched the jointly developed Production Asset Reliability (PAR) predictive maintenance solution in February 2015. The PAR solution marries GE’s Bently Nevada domain expertise in condition monitoring and diagnostics with Meridium’s in asset strategy and performance management to provide a holistic predictive monitoring solution designed to optimize efficiency through unified processes and decision-making.
ARC anticipates that improving uptime and reducing maintenance costs will be some of the first applications for IIoT. However, to maximize gains from IIoT, a technical infrastructure capable of collecting data from throughout the extended enterprise is essential. That is, data from internal operations, products, and sourced from partners and customers. The data must be collected, managed, and analyzed to gain insight into potential issues and opportunities. The marriage of these leading suppliers is a step forward in creating a modern, agile infrastructure that will be essential for widespread use of IIoT.
In an interview with Jeremiah Stone, General Manager of GE’s Asset Performance Management business unit and Don Richardson, Meridium Strategic Alliance Director, Stone stated that customers wanted to accelerate what the partners were already doing. He believes that the complementary nature of the product portfolios will result in the most comprehensive predictive maintenance offering in the marketplace. Richardson expressed Meridium’s desire to continue to continue to service the customer stating that heterogeneous plants need a common APM collector. This is consistent with ARC research findings that end users prefer a unified systems approach to asset management as opposed to point solutions.
The complementary nature of the product portfolios of GE Digital and Meridium is expected to provide operational risk management in a unified system. As partners, they already have a jump on solution integration efforts having launched the jointly developed Production Asset Reliability (PAR) predictive maintenance solution in February 2015. The PAR solution marries GE’s Bently Nevada domain expertise in condition monitoring and diagnostics with Meridium’s in asset strategy and performance management to provide a holistic predictive monitoring solution designed to optimize efficiency through unified processes and decision-making.
ARC anticipates that improving uptime and reducing maintenance costs will be some of the first applications for IIoT. However, to maximize gains from IIoT, a technical infrastructure capable of collecting data from throughout the extended enterprise is essential. That is, data from internal operations, products, and sourced from partners and customers. The data must be collected, managed, and analyzed to gain insight into potential issues and opportunities. The marriage of these leading suppliers is a step forward in creating a modern, agile infrastructure that will be essential for widespread use of IIoT.