GE Digital (GE) has acquired ServiceMax for $915M as part of its broader vision to build out its capabilities for delivering services for the industrial internet. ServiceMax focuses on digitizing the delivery of services to ensure the health of devices used in verticals that include life sciences and medical management, aerospace and defense, energy and utilities and building services. For example, ServiceMax optimizes the service lifecycle for the repair of devices such as elevators and oil rigs by giving field service engineers a platform for understanding, identifying and responding to issues related to devices. The ServiceMax platform manages workflows such as the discovery of installed devices, scheduling of device maintenance, documentation of issue resolution, the delivery of proactive alerts regarding device maintenance and the delivery of updates to customers. ServiceMax’s digitization of field services via a SaaS platform also handles inventory management, parts and returns management as well as contract and warranty management.
GE’s acquisition of ServiceMax positions it to continue leveraging and enhancing its Predix platform for aggregating and analyzing massive volumes of machine data from the internet of things. Built on Cloud Foundry, the Predix Platform as a Service provides a framework for connecting machines and then subsequently writing applications that deliver analytics and business intelligence about the performance of the ecosystem of connected devices. By acquiring ServiceMax, GE differentiates itself as the undisputed market leader in analytics and professional services for the internet of things and stands poised to drive a tighter integration between the Predix and ServiceMax platforms. The parallel value streams implicit in GE’s Predix cloud for facilitating app development for IoT and the digitization of field services specific to ServiceMax promise to synergistically inform each other and consolidate GE’s leadership in all things related to the industrial internet. ServiceMax was founded by Athani Krishna and Hari Subramanian. The company had raised a total of $204M prior to its acquisition.