General Electric buys Sri Lanka linked ShipXpress

ECONOMYNEXT – GE Transporation, a unit of US-based General Electric Group dealing in rail and transport, said it had acquired ShipXpress, a software company that has its marketing and technology hub in Sri Lanka.

ShipXpress has a cloud-based platform that allows industrial and commodities businesses to work with transport providers to make supply chains more efficient.

"By combining ShipXpress’ innovative software products with GE’s sensing technology and industrial-strength platform Predix, we’ll deliver the industry’s most advanced, scalable, cloud-based solution to accelerate the movement of goods and information, and enhance supply chain performance, Jamie Miller, GE Transportation president and CEO said in a statement.

"Our combined capabilities will help short-line railroads better analyse their rail operations, car accounting and supply chain information, and deliver a data-rich path to ongoing performance improvement, asset and operations optimisation."

Seth Maerowitz, an investment banker; Raghu Misra, a specialist in IT strategic planning; and the late Charith Perera, who was chief executive for 16 years, founded ShipXpress.

"Through this integration, we will help our customers achieve the promise of real-time collaboration among trading partners, the industrial internet; greater control, lower costs and increased operational efficiencies," said Raghu Misra.

Headquartered in Florida, the firm employs over 200 people. Its technology and marketing arms are based in Sri Lanka.

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