GE Acquires Rail Software Provider RMI
Erie, Penn. (Nov. 16, 2011) – GE Transportation, the world’s leading maker of rail and transportation- related products, announced today its intent to acquire transportation software provider RMI from global alternative asset manager The Carlyle Group. Pending regulatory approval anticipated early next year, this acquisition expands GE Transportation’s Software and Optimization Solutions business to serve railroad customers worldwide. Terms of the deal were not disclosed. The Transaction is expected to close in early 2012.
With revenues of approximately $45 million, RMI is a leading provider of transportation management software solutions for railroads, rail shippers, railcar leasing companies, and intermodal services in North America. RMI’s software is designed to help its users to improve efficiency and productivity while reducing costs.
Lorenzo Simonelli, President and CEO of GE Transportation, said: “We’re excited about the prospect of RMI joining GE Transportation. The company is well-known for its leading software products and the expertise of its team members. RMI’s software offerings complement GE Transportation’s rail portfolio. This is incredibly strategic for us and provides a great platform for expanding our software and services capabilities.“
GE Transportation helps its railroad customers around the globe optimize assets, networks and energy use through its Software and Optimization Solutions, Signaling, and Services operations. GE Transportation’s suite of software products enables railroads to reduce operational expenses, increase productivity, expand capacity and reduce fuel use and emissions.
Pete Kleifgen, Chairman and CEO of RMI, said: “We are looking forward to becoming part of GE, a world-class company, and to expanding the reach of RMI’s software solutions to railroad and transportation logistics customers around the globe.”
The Carlyle Group was advised by Evercore Partners.
About GE Transportation
GE Transportation, a unit of General Electric Company (NYSE: GE), is a global technology leader and supplier to the railroad, marine, drilling, mining and energy storage industries. GE Transportation provides freight and passenger locomotives, signaling and communications systems, information technology solutions, marine engines, motorized drive systems for mining trucks and drills, high-quality replacement parts and value added services. GE Transportation is headquartered in Erie, Penn., and employs approximately 11,000 employees worldwide.