In a bet to expand its digital unit, General Electric (GE) has announced the acquisition of Meridium that offers Asset Performance Management (APM) software and services and monitors industrial machinery. The deal will reportedly help GE Digital, the software arm of GE, accelerate its comprehensive APM offering and provide a solution to customers that unifies real-time analytics with a complete APM solution.
In conjunction, Meridium customers will gain access to GE’s domain expertise in real-time data management and advanced industrial analytics. The buyout –valued at $495 million–seems like a subsequent step after the 26 percent stake GE bought earlier, in 2014.
Bill Ruh, CEO, GE Digital, believes that Meridium has a mature software development culture, which will help GE enhance its bench of deep technology talent. He said:
“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.”
“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,” Ruh added.
GE’s Asset Performance Management (APM), powered by its Predix platform, is a suite of cloud-based software and service solutions that claim to work across the plant and across the fleet. The solutions cover the full range of APM needs like Machine & Equipment Health, Reliability Management, and Maintenance Optimization to help asset-centric industrial companies increase uptime, decrease costs, and reduce operational risks.
The integration of both, says GE, would enable customers to leverage Industrial Internet of Things (IIoT). The news of the merger comes after its recent $1.4 billion buy of two 3D printing companies; Germany-based SLM Solutions Group and Sweden’s Arcam. According to the company, Meridium will also bring additional capabilities and processes focused on asset-centric industries such as oil, gas, power and chemicals. The addition apparently complements GE Digital’s existing software and efforts in expanding its industrial portfolio.
Bonz Hart, Founder and CEO, Meridium, also commented:
“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. We are excited to join GE Digital and expand Meridium’s capabilities into more industries.”