Meridium Announces Strategic Investment by GE Measurement & Control
ROANOKE, Va., July 24, 2014 /PRNewswire/ — Meridium®, Inc. (www.meridium.com), the global leader in asset performance management (APM) software and services, announced today that GE’s Measurement & Control business has made a strategic minority equity investment in Meridium, and will enter into a new, non-exclusive alliance and distribution agreement that interfaces Meridium’s APM software and GE’s Bently Nevada System 1™ Asset Condition Monitoring (ACM) software. The combined offering will enable condition-based maintenance and real time management of equipment downtime and production risks for customers in oil and gas, power generation, hydrocarbon processing, and other asset-intensive industries, maximizing operational effectiveness and preserving and extending the life of capital assets.
The investment in Meridium aligns with GE’s focus on the Industrial Internet and its commitment to connect human insight with machine intelligence and advanced analytics to drive increased productivity in global industries. According to Art Eunson, General Manager of GE’s Bently Nevada, "The way we do business is being dramatically altered in the era of the Industrial Internet. We are realizing the increased productivity and efficiency gains from big data and analytics delivered in real-time. The partnership with Meridium will increase value for our customers, allowing them to quantify risk in a near real-time manner. We are unlocking the value of condition based maintenance, which will lead to reduced maintenance costs, increased mechanical availability and less downtime for our customers."
The combination of Meridium APM and GE ACM into a unique software offering will provide a more holistic view of plant operations, connecting sensors to business impact and plant systems. Together, Meridium and GE provide an unparalleled solution for customers to quantify the value of condition monitoring while managing the reliability, strategy, and operational risk of their assets.
"Working with GE across mutual clients over many years taught us that together we could produce additional significant tangible value through collaboration and interfaces," said Bonz Hart, Meridium’s Founder and CEO. "As we looked at the strengths of each company and our rapidly expanding global markets, working closer together made sense for our clients and to better serve our markets. GE’s Bently Nevada operates in a multi-OEM and multi-system world, as does Meridium, so we’re also tightly aligned on strategy. GE’s minority investment allows Meridium to stay focused on innovation and support our global growth."