GE Digital acquires ServiceMax for $915m in Industrial Internet play

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GE Digital has announced the acquisition of cloud-based field service management provider ServiceMax for $915 million (£736.6m) in order to enhance its Industrial Internet capabilities.

GE estimates that there is a market-wide opportunity to improve service productivity by USD 25 billion through the use of analytical tools. And by acquiring ServiceMax, it plans to add analytics and insights into the ServiceMax logistics, workforce optimisation and deployment models. It is also planning to leverage the Predix platform to further the development of additional industrial applications focused on service delivery.

Furthermore, ServiceMax will also be able to access to new verticals and will be able to utilise GE Digital’s scale and comprehensive Predix platform to enhance and strengthen their offerings for customers.

Bill Ruh, CEO, GE Digital, said: “This acquisition builds upon our ongoing efforts to enhance our overall technology stack around the Predix platform and advance our Industrial Internet vision. 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,” Ruh added.

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