GE Additive acquires GeonX to strengthen software simulation capabilities

• GeonX is a privately-owned software company • Specialist simulation software improves additive manufacturing processes and minimize development costs

Frankfurt am Main (Germany), November 16, 2017 - GE Additive announced today that it has acquired GeonX, a privately-owned developer of simulation software. Terms of the deal are not being disclosed.

Headquarted 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.

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