GE buys cloud-based software firm ServiceMax for $915 million

GE says the acquisition is part of GE Digital’s strategy to advance its “Industrial Internet” vision


GE wants to connect machines using the internet, producing data that can improve productivity, reduce emissions and lower fuel costs. Photo: Bloomberg
GE wants to connect machines using the internet, producing data that can improve productivity, reduce emissions and lower fuel costs. Photo: Bloomberg

Bengaluru: General Electric Co. (GE) said its software unit bought ServiceMax, a cloud-based provider of software used in inventory and workforce management, for $915 million.

GE said the acquisition was part of GE Digital’s strategy to advance its “Industrial Internet” vision.

GE wants to connect machines using the internet, producing data that can improve productivity, reduce emissions and lower fuel costs. Reuters

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