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GE Creates New Independently Managed IoT Business

With its stock valuation continuing to sag, the company is looking for short-term revenue growth. To that end, it is creating a new stand-alone IoT software business.

GE is creating a new industrial IoT business that will fuse its GE Digital business including its Predix platform and GE Power’s digital and grid software units.

While GE Digital was created with the aim of transforming the parent company into a “digital industrial company” while making GE a top-ten software company by 2020, the new industrial IoT software company will have clearer revenue-targeted ambitions. The new entity has $1.2 billion in annual software revenue.

The new GE Digital business will be rebranded and will receive its own equity structure and board of directors.

Read More on IoT World Today

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