GE Intelligent Platforms Acquires SmartSignal Corporation
by: Duchossois Technology Partners | Elmhurst, IL | January 6, 2011
GE Intelligent Platforms today announced that it has completed the acquisition of SmartSignal, a privately-held, analytics software company based in Lisle, Illinois. SmartSignal specializes in providing Remote Monitoring & Diagnostics solutions to the Power Generation, Oil & Gas and other industrial sectors. SmartSignal is a leading provider of predictive diagnostic software and monitoring services used to anticipate, prevent, and avoid equipment failure. The company has more than 40 product and technology patents, and has won more than 25 awards for product excellence.
“The acquisition of SmartSignal shows our commitment to continue investing in GE Intelligent Platforms’ Software & Services business, and will serve as an important catalyst to rapidly expand the capabilities of our Operational Intelligence platform,” said Maryrose Sylvester, President & CEO for GE Intelligent Platforms. “SmartSignal is a recognized leader and innovator with technology that detects looming equipment problems early and with confidence. This acquisition complements GE’s existing capabilities in diagnostics and equipment analytics, and gives us the ability to cover a much wider range of asset types and equipment manufacturers for our customers. ”
“With GE’s commitment to solving difficult challenges in today’s business environment,” said Jim Gagnard, President & CEO of SmartSignal, “we believe our solution can help provide a holistic approach to Operational Intelligence across many industries no matter what type of equipment the customer is trying to manage.”
SmartSignal detects and identifies abnormal equipment behavior and provides exception-based notifications of developing problems along with diagnoses and prioritizations. The company’s products currently monitor 12,000 assets across 300 sites worldwide; customers include Chevron, GenOn, Constellation Energy, Entergy, and Delta Airlines.
“Duchossois Technology Partners has been an early stage and long term investor in SmartSignal and is very pleased with the outcome from the GE acquisition. The management team built the category leading company, expanding the scope of business intelligence software to include new types of assets across many different industries," said Rohit Seth, SmartSignal Board Director and General Partner at Duchossois Technology Partners.
Duchossois Technology Partners (DTEC) is a venture capital firm investing in early, mid, and growth stages of high potential technology companies. Founded in 1998, DTEC has invested in over two dozen entrepreneurial management teams, focusing on information technology, communications, semiconductors, and software. DTEC invests nationwide and maintains offices in Chicago, IL and Austin, TX.
“The acquisition of SmartSignal shows our commitment to continue investing in GE Intelligent Platforms’ Software & Services business, and will serve as an important catalyst to rapidly expand the capabilities of our Operational Intelligence platform,” said Maryrose Sylvester, President & CEO for GE Intelligent Platforms. “SmartSignal is a recognized leader and innovator with technology that detects looming equipment problems early and with confidence. This acquisition complements GE’s existing capabilities in diagnostics and equipment analytics, and gives us the ability to cover a much wider range of asset types and equipment manufacturers for our customers. ”
“With GE’s commitment to solving difficult challenges in today’s business environment,” said Jim Gagnard, President & CEO of SmartSignal, “we believe our solution can help provide a holistic approach to Operational Intelligence across many industries no matter what type of equipment the customer is trying to manage.”
SmartSignal detects and identifies abnormal equipment behavior and provides exception-based notifications of developing problems along with diagnoses and prioritizations. The company’s products currently monitor 12,000 assets across 300 sites worldwide; customers include Chevron, GenOn, Constellation Energy, Entergy, and Delta Airlines.
“Duchossois Technology Partners has been an early stage and long term investor in SmartSignal and is very pleased with the outcome from the GE acquisition. The management team built the category leading company, expanding the scope of business intelligence software to include new types of assets across many different industries," said Rohit Seth, SmartSignal Board Director and General Partner at Duchossois Technology Partners.
Duchossois Technology Partners (DTEC) is a venture capital firm investing in early, mid, and growth stages of high potential technology companies. Founded in 1998, DTEC has invested in over two dozen entrepreneurial management teams, focusing on information technology, communications, semiconductors, and software. DTEC invests nationwide and maintains offices in Chicago, IL and Austin, TX.