General Electric Buys RMI From Carlyle Group; Terms Not Disclosed

GE Transportation GE announced today the completion of its acquisition of software provider RMI from The Carlyle Group. The acquisition significantly expands GE Transportation's Software and Optimization Solutions business to serve railroad customers worldwide. Terms of the deal were not disclosed. RMI (www.rmiondemand.com) is a provider of transportation management software solutions for railroads, rail shippers, railcar leasing companies, and intermodal services in North America. RMI designs software to help its users improve efficiency and productivity while reducing costs. “RMI builds on GE Transportation's Software and Optimization Solutions offerings with an array of products as well as a tremendous amount of industry, technical, and software development and delivery capability,” said Lorenzo Simonelli, GE Transportation President & CEO. “Combined, we are able to offer a portfolio of products to help customers around the globe improve their operations.” Pete Kleifgen, Chairman and CEO of RMI, said: “We are thrilled to become part of GE, a world class company, and to join the GE Transportation family. We see tremendous opportunity for growth for our company, our people and our products.” As U.S. rail freight volume is expected to nearly double in the next 25 years, software solutions will continue to enable carriers to improve efficiencies and safely move more freight faster on existing rail lines. As a GE Transportation company, RMI will add to GE Transportation's Rail technology portfolio, which includes its Evolution Series Locomotives, railway signaling and office systems, and advanced network and asset optimization solutions. Further, the acquisition is consistent with the larger GE strategy to expand its $4 billion-a-year software and solutions services to help customers improve productivity and efficiency worldwide. GE announced in November 2011 an expansion of software programs and the opening of a new Global Software Center to be headquartered in San Ramon, CA. The new Software Center of Excellence will employ approximately 400 software professionals working to connect all of GE's businesses, products, and 5,000 software professionals around the globe.