GE to buy new start-ups for its digital business

GE to buy new start-ups for its digital business

Posted by P. Charitha on November 16th 2016

General Electric Company revealed that it would buy two new start-ups for expanding its software division, GE Digital business with its headquarters located in San Ramon, California.
GE said it would acquire, a machine learning firm which specializes in predictive intelligence and Bit Stew, which offers a data intelligence platform powered by machine learning that integrates data between industrial connected devices and external systems for industrial applications.
As part of these deals it will add about 120 people to help build its product offerings of GE Digital and is said to generate orders of $7 billion this 2016.GE previously invested $915 million in ServiceMax Inc., a Californian firm that makes apps for service functions like inventory management and workforce scheduling for a very high amount.  These acquisitions would bring in Bit Stew’s technology, which helps unify data from disparate operating systems & technology, which helps route customer service requests. These combined technologies would help the company enhance Predix, a software platform aimed at helping industrial customers gather and analyze data to help them manage their equipment and in turn make them more robust and efficient and  transform  the way  service business are done. 
GE expects to have 20,000 developers working on software designed for its Predix platform by the end of the year, up from the existing 10,000 developers as on June 2016.It plans to touch $15 Billion in software sales by 2020, out of which almost half of the revenues are to come from selling Predix applications. The main industry focus of these sales targets would be the electricity industry, which is under constant pressure to improve efficiency in power generation, transmission and across the electric grid.


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