NOV 16 - FRANKFURT AM MAIN, Germany--(BUSINESS WIRE)--GE Additive announced today that it has acquired GeonX, a privately-owned developer of simulation software. Terms of the deal are not being disclosed.
Headquartered in Belgium, GeonX provides software for engineers when developing new products, to simulate additive manufacturing, welding, machining and heat treatment processes in various industries such as aerospace, automotive and energy.
GeonX’s simulation software tool, Virfac® (short for Virtual Factory), assesses products prior to production; predicting defects, distortions and stresses and the impact manufacturing has on a product’s durability. This helps to reduce the number of prototypes built during the development phase, while improving the quality and lifetime of the manufactured products. This can minimize the time to market and development costs.
Mohammad Ehteshami, Vice President and General Manager, GE Additive said, “As a business, GE Additive is committed to accelerating the additive manufacturing industry. Innovative simulation software solutions like Virfac do just that by adding real value to our customers who want to speed up product design and development, while maintaining the best possible quality. We’re delighted to welcome GeonX to the GE Additive family.”
Laurent D'Alvise and Michel Delanaye, co-founders and CEOs, GeonX said, “GE Additive is the innovator in the additive manufacturing sector and we’re thrilled to join the team. Software is of course integral to digital transformation, so we are equally excited to be part of GE’s Digital Industrial journey.”
For many years, GE has been a leading end user and innovator in the additive manufacturing space. In addition to the $1.4 billion investment in Concept Laser and Arcam, GE has also invested approximately $1.5 billion in manufacturing and additive technologies over the past 10 years, developed additive applications across all GE businesses, created new services applications across the company, and earned hundreds of patents in material science. In 2016, the company established GE Additive to become a leading supplier of additive technology, materials and services for industries and businesses worldwide.
GeonX is a high-tech company specializing in virtual manufacturing. GeonX develops and provides its customers best in class scientific and industrial software for the simulation of welding, heat treatment, machining and Additive Manufacturing. Simulating before making is the motto of GeonX. Founded in 2012, GeonX has 12 people and is headquartered in Belgium. www.geonx.com
About GE Additive
GE Additive is part of GE (NYSE: GE) - the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE Additive includes additive machine providers Concept Laser and Arcam EBM; along with additive material provider AP&C and additive service provider to the medical industry, DTI. As a notable user of additive technologies GE recognize the value and potential it brings to modern design and manufacturing. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, resources and intellect. GE delivers better outcomes for customers by speaking the language of industry. www.ge.com/additive