GE Goes All-in on IIoT Analytics Platform Predix with ServiceMax, Bit Stew, and Wise.io Acquisition

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By Ryan Martin | 4Q 2016 | IN-4357

 

GE’s IIoT Shopping Spree

NEWS


GE is getting a jump on the holiday shopping season. The Boston-based IIoT powerhouse recently agreed to buy ServiceMax, a cloud-based provider of field service management solutions, for US$915 million. Less than 24 hours later at its annual Minds + Machines conference in San Francisco, GE announced the acquisition of not one, but two more companies: Bit Stew Systems (US$153 million) and Wise.io (undisclosed).

Buy to Build

IMPACT


The trio of acquisitions will be leveraged to extend the efficacy and operating footprint of GE’s Predix platform: ServiceMax for digital service transformation (esp. when paired with GE’s acquisition of APM provider Meridium for US$495 million in 3Q 2016); Bit Stew will be utilized for IIoT data ingestion, integration, and management at both the edge and cloud levels; Wise.io will be leveraged to enhanced machine learning and data science capabilities as well as to accelerate Digital Twin development.

The business value GE intends to deliver as a…

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