USA: Expansion of Industrial Services GE Digital Acquires ServiceMax
GE Digital has acquired ServiceMax, a provider of cloud-based field service management (FSM) solutions, for $ 915 million.
San Ramon/USA — With this acquisition GE plans to add analytics and insights into the ServiceMax logistics, workforce optimization and deployment models. The company estimates there is a market-wide opportunity to improve service productivity by $ 25 billion through the use of analytical tools.
ServiceMax’s platform provides applications such as inventory and parts logistics, scheduling and workforce optimization, and work order management. The company plans to leverage the Predix platform to further the development of additional industrial applications focused on service delivery. Coupled with the recent acquisition of Meridium, GE Digital will now provide a full suite of applications centered on driving comprehensive asset management for the Industrial Internet.
“This acquisition builds upon our ongoing efforts to enhance our overall technology stack around the Predix platform and advance our Industrial Internet vision,” said Bill Ruh, CEO, GE Digital. “Improved productivity is critical for the Industrial Internet and digitizing field services is a cornerstone of a successful digital industrial strategy. This transaction, along with our previous acquisitions of Wurldtech and Meridium, is directly aligned with our strategy to drive growth both inorganically and organically by building the capabilities to support the digital industrial transformation through Predix, APM and the Digital Thread.”
The acquisition of ServiceMax is expected to close in January, subject to customary closing conditions, including receipt of applicable regulatory approvals.