USA: GE Transportation announced an agreement to acquire transport software provider RMI from The Carlyle Group on November 16.
The transaction is expected to be completed once regulatory approval is obtained in early 2012, with RMI becoming part of GE Transportation's Software & Optimization Solutions business. Terms were not disclosed.
RMI provides North American railways, shippers and wagon leasing firms with software to improve productivity and efficiency. Founded in 1979, it has 170 staff and offices in Atlanta, Jacksonville and Austin, with annual revenues of $45m. RMI Chairman & Chief Executive Pete Kleifgen said becoming part of GE will expand its reach worldwide.