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GE creates new $1.2 B industrial IoT software company in digital strategy rethink

December 14, 2018 / Eden Estopace

General Electric has announced plans to set up a new software company focusing on the industrial Internet of Things (IoT). In a statement released Thursday, the industrial powerhouse said the new organization will be wholly-owned, independently run business that will bring together the company’s digital initiatives including IIoT solutions. These include the Predix platform, Asset Performance Management, Historian, Automation (HMI/SCADA), Manufacturing Execution Systems, Operations Performance Management, and the GE Power Digital and Grid Software Solutions businesses. “As an independently operated company, our digital business will be best positioned to advance our strategy to focus on our core verticals to deliver greater value for our customers and generate new value for shareholders,” said GE Chairman and CEO H. Lawrence Culp Jr.