GE Acquires Remaining Stake in Industrial Software Firm Meridium

   By Tess Stynes 
 

General Electric Co.'s (GE) digital unit acquired the remaining stake in enterprise software company Meridium Inc. that it doesn't already own, stepping up GE's capabilities in technologies that help industrial customers use real-time data to improve their operations.

GE initially acquired a 26% stake in Roanoke, Va.-based Meridium in July 2014. The total enterprise value of the acquisition was $495 million, including the initial investment, according to GE.

The acquisition complements GE's asset-performance management software offerings, which include cloud-based software and services that aim to help customers better manage machine-generated, equipment-monitoring data to meet production and performance goals and to reduce operating risk.

The addition of Meridium will bring other capabilities and processes focused on industries including oil-and-gas, power and chemicals that complement GE's current lineup. Meridium's asset-performance management products are already integrated into GE's Predix platform.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

September 14, 2016 16:14 ET (20:14 GMT)

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