GE Buys ServiceMax: IoT, Analytics Redefine Field Service Management
GE Digital (NYSE: GE) has acquired ServiceMax for $915 million. The deal, in theory, will connect the dots between field service management, the Internet of Things (IoT), predictive analytics, hardware maintenance and repair, and more.
ServiceMax develops field service management software. Although ServiceMax appeals to multiple vertical markets, it has strong adoption among VARs and OEMs that are seeking to optimize their supply chains and support services.
Looking ahead, watch for GE Digital to extend its industrial IoT platform — called Predix — and associated analytics across the ServiceMax platform. The net result? Field service management software may proactively “predict” when hardware and IT infrastructure is about to fail.
According to a GE Digital statement:
“With this acquisition GE plans to add analytics and insights into the ServiceMax logistics, workforce optimization and deployment models. GE estimates there is a market-wide opportunity to improve service productivity by $25 billion through the use of analytical tools.”
ServiceMax’s platform supports multiple capabilities, including inventory and parts logistics, scheduling and workforce optimization, and work order management. In some ways, it competes with PSA (professional services automation) software that MSPs use to manage and automate their businesses.
GE Digital expects to finalize the ServiceMax buyout in January 2017. The deal is subject to customary closing conditions, including receipt of applicable regulatory approvals, the companies said.