ROANOKE, Va. (WDBJ7) Software company Meridium has been sold to General Electric for nearly half a billion dollars.
G.E. first invested in the safety-monitoring company two years ago. They got a 26 percent stake in the deal.
But Meridium CEO Bonz Hart said he knew he'd need more help if he wanted to help oil and gas companies monitor increasingly complex machinery.
"It was a good feeling. It was a sense of the right time, the right company, the right place, and the right thing for all our employees," Hart said.
Hart said the company could double in size under the deal. Meridium will keep its Roanoke headquarters and continue to partner with local colleges for potential staff.