Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / GE buys cloud-based software firm ServiceMax for $915 million
BackBack

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: BloombergPremium
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

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 15 Nov 2016, 12:16 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie