GE Transportation to acquire RMI
Written by William C. Vantuono, Editor-in-ChiefGE Transportation said Wednesday its intends 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, Erie-Pa.-based GE Transportation said.
Terms of the deal were not disclosed. The transaction is expected to close in early 2012.
GE Transportation described RMI as “a leading provider of transportation management software solutions for railroads, rail shippers, railcar leasing companies, and intermodal services in North America with revenue of approximately $45 million. 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 softwareand services capabilities.”
Pete Kleifgen, chairman and CEO of Atlanta-based 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.”
GE Transportation is a subsidiary of Fairfield, Conn.-based General Electric Co.
