World News: GE – Equipment Services acquires Terion
GE – Equipment Services has acquired the business of Terion Inc, provider of two-way wireless data communication and information solutions for the transportation industry.
The terms of the acquisition were not disclosed.
Equipment Services owns and leases of one of the world's largest fleets of trucks, road trailers, railcars and sea containers.
GE will integrate the Terion businesses with its Asset Intelligence division, which offers solutions for tracking transportation assets and monitoring the condition of those assets and the shipments they carry.
Equipment Services and Terion combined operate more than 100,000 tracking and monitoring units on over-the-road trailers in the US and Europe.
“Our business is evolving from simply providing financing for transportation assets to providing broader solutions that help shippers and transporters make their supply chains more productive,” said Equipment Services president & CEO Deborah Reif, adding that the Terion acquisition will help to accelerate the company’s development of intelligence-based services for other modes of transport.
The Asset Intelligence division and Terion will co-ordinate operations but will continue to operate separately over the next several months while the two businesses develop and implement integration plans.
