GE Digital (NYSE: GE) has acquired Meridium Inc., a global provider of asset performance management (APM) software and services. According to GE digital, the acquisition will help the comapny accelerate its APM offering and provide a solution to customers that unifies real-time analytics with reliability-centered maintenance best practices. Meridium customers will gain access to GE’s deep domain expertise in 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.
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 complement GE’s existing offerings.