All
Suppliers
Products
CAD Models
Diverse Suppliers
Insights
By Category, Company or Brand
All Regions
Alabama
Alaska
Alberta
Arizona
Arkansas
British Columbia
California - Northern
California - Southern
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Manitoba
Maryland
Massachusetts - Eastern
Massachusetts - Western
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Brunswick
New Hampshire
New Jersey - Northern
New Jersey - Southern
New Mexico
New York - Metro
New York - Upstate
Newfoundland & Labrador
North Carolina
North Dakota
Northwest Territories
Nova Scotia
Nunavut
Ohio - Northern
Ohio - Southern
Oklahoma
Ontario
Oregon
Pennsylvania - Eastern
Pennsylvania - Western
Prince Edward Island
Puerto Rico
Quebec
Rhode Island
Saskatchewan
South Carolina
South Dakota
Tennessee
Texas - North
Texas - South
Utah
Vermont
Virgin Islands
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Yukon

GE to Establish Independent IoT Company

Andy Szal
1/27/2019 | 5 min read
Subscribe
GE to Establish Independent IoT Company

On December 13, General Electric announced plans to combine its Industrial Internet of Things (IIoT) operations into a new, separate company.

Officials said the new company would have a distinct brand, equity structure, and board of directors, but would be wholly owned by GE. The move is one of several made in recent years with the aim of streamlining the iconic company’s sprawling operations.

"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,” GE Chairman and CEO Larry Culp said in a statement.

The restructuring would include the GE Digital subsidiary and numerous GE software offerings, including the Predix platform and the GE Power Digital business.

GE said the new company would debut with a built-in global customer base and software revenue of $1.2 billion per year. Officials also stated that the new structure will allow GE to capitalize on the rapidly growing IIoT market, particularly in “asset-intensive industries” such as aviation, energy, and consumer goods.

The head of the new company, however, will be determined after a GE search process; current GE Digital CEO Bill Ruh left “to pursue other opportunities," the company said.

 

Image credit: Ken Wolter / Shutterstock.com

Next Up in Manufacturing & Innovation
Bridge Collapse Reverberates Throughout Supply Chain
Show More in Manufacturing & Innovation