General Electric Co. said Tuesday that its transportation subsidiary completed the purchase of software maker RMI from buyout firm The Carlyle Group.
Terms were not disclosed.
RMI makes software designed to improve productivity of railroads, rail shippers and railcar leasing companies. GE said rail freight volume could nearly double in the next 25 years.
GE's transportation business makes locomotives and railway signaling and office systems.
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GE said RMI will remain based in Atlanta with offices in Jacksonville, Fla., and Austin, Texas.
In afternoon trading shares of GE rose 47 cents, or 2.6 percent, to $18.38.