It was recently announced that after receiving international approval from regions and countries including the EU, U.S., and China, power company Alstom has been acquired by GE. The deal marks GE’s largest industrial acquisition and was made for approximately 9.7B EUR.
As the leading company in the world for constructing electrical power plants, Alstom is a large, multi-national, innovative company seeking to use technologies that have a low environmental impact. With over 92,000 employees and based in France, a large portion of the company’s 20B euros in sales comes from inspecting and maintaining power plants they’ve built for their customers. To help with these large-scale service projects, Alstom technicians use Coresystems Field Service Software to collaborate more effectively, keep track of materials and generate reports using checklists. Since the Coresystems Mobile App allows important data to be available offline—a must for engineers at power plants—technicians can still have the information they need at their fingertips even if their mobile device is in flight mode. GE-Alstom technicians will continue using Coresystems Field Service Software after the merger.
“The complementary technology, global capability, installed base, and talent of Alstom will further our core industrial growth,” said Jeff Immelt, CEO of GE. “We are open for business and ready to deliver one of the most comprehensive technology offerings in the energy sector for our customers.”
This isn’t the first time GE has made a deal with Alstom. In 2014, the companies agreed to joint ventures for renewables, grid, and nuclear so that GE could purchase Alstom’s power and grid business. With their forces combined, the two companies are already working on current projects around the world.
GE is a digital industrial company that is aiming to become simpler and more focused. Like Alstom, GE has also used modern technology and trends to spur innovation, such as utilizing the crowd to discover new projects on its crowdsourcing platform. The company has sold its rail signaling business to Alstom for $800 million. Together, GE and Alstom are looking at bidding on plant projects in Asia, while Alstom looks to bid on steam turbine-related projects in the UK and the Middle East.