GE Launches $1.2 Billion Industrial IoT Software Company

New GE-owned, independently run entity will be established to expand company’s leadership in IIoT market and better serve industrial customers. GE selling majority stake in ServiceMax. GE today announced plans to establish a new, independent company focused on building a comprehensive Industrial Internet of Things (IIoT) software portfolio. The company will start with $1.2 billion in annual software revenue and an existing global industrial customer base. The company is intended to be a GE wholly-owned, independently run business with a new brand and identity, its own equity structure, and its own Board of Directors. The proposed new organization aims to bring together GE Digital’s industry-leading IIoT solutions including 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.