GE Aviation Acquires Leader in Digital Aircraft Records Management
March 27 2017 - 01:00PM
Business Wire
GE Aviation announced today that it has acquired Critical
Technologies, Inc., branded as AirVault®, a privately-owned
supplier of cloud-based digital records management. AirVault’s
expertise to digitally manage mission-critical records across an
industrial supply chain network strengthens GE's ability to focus
on asset lifecycle management and maintenance optimization for the
aviation industry.
“Our focus is to help our customers and the overall industry to
be more efficient,” said Jim Daily, vice president and chief
digital officer for GE Aviation. “The acquisition of AirVault
combines some of the best people and records management capability
with GE’s domain expertise in flight analytics and engine
diagnostics to bring disparate data together to drive operational
efficiencies.”
The combination of AirVault and GE will further enable web-based
fleet maintenance records management across the aviation ecosystem
with GE’s Configuration Data Exchange. The ability to connect
records and data across aviation companies and the IT systems they
use to manage their fleets will drive productivity and data
availability. Coupled with GE’s Predix industrial cloud platform,
this further strengthens the team in developing meaningful insights
and optimizing operations over a wide range of aviation
applications.
"This is great news for our employees and our customers," said
AirVault CEO John Oldham. "Customers will continue to benefit from
the same expertise and service for which we are known, while the
strength of GE provides a platform for future innovation and
growth. The addition of the Enterprise Content Management service
with Predix delivers document management, business process, and
data analytics to organizations requiring high levels of
performance and compliance.”
AirVault, with data center operations in Dallas and Oklahoma
City, is a leading provider of ECM applications for global
enterprises that require mission-critical performance, exacting
security and regulatory compliance standards, specifically designed
for the high-volume applications with millions of transactions per
day. The Company delivers packaged document management, business
process, and related analytical data applications exclusively as
Software as Service (SaaS) via a patented multi-tenant service
platform.
More than 40 major airlines and MROs trust AirVault with their
aircraft maintenance records, including the largest airlines in the
world. Today, AirVault manages the maintenance records for more
than 50% of the North American commercial aircraft fleet for 4,400
aircraft tail numbers and 20% globally. AirVault manages more than
seven billion records in a private, secure cloud hosted at the
company's fully redundant data centers for access by 40,000 users
worldwide.
FOCUS Investment Banking LLC advised Critical Technologies in
this transaction.
GE Aviation, an operating unit of General Electric Company
(NYSE: GE), is a world-leading provider of commercial and military
jet engines, and avionics, digital solutions and electrical power
systems for aircraft.
GE is the world’s Digital Industrial Company, transforming
industry with software-defined machines and solutions
that are connected, responsive and predictive. GE is
organized around a global exchange of knowledge, the "GE Store,"
where each business shares and accesses the same technology,
markets, structure and intellect. Each invention further fuels
innovation and application across our industrial sectors. With
people, services, technology and scale, GE delivers better outcomes
for customers by speaking the language of industry.
www.geaviation.com/digital
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version on businesswire.com: http://www.businesswire.com/news/home/20170327005882/en/
GE AviationJennifer Villarreal,
1-616-241-8643jennifer.villarreal3@ge.com
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