Matt KendallU.S. industrial behemoth General Electric (GE) is launching into the software market with two new acquisitions and aims to become a top 10 software company by 2020.
The company has acquired Wise.io, a machine learning specialist, and Bit Stew for data ingestion, adding to its bevvy of acquisitions worth a combined $2 billion. This is all part of GE’s goal to strengthen the company’s flagship digital platform, Predix.
“The winner figures out how to take an asset and make it more efficient. I don’t think this will be a world led by startups, but by industrial companies, small, medium and large. It is not about being cool; it is about productivity in your business and differentiating your products in a way your competitors can’t,” said GE’s chief digital officer, Bill Ruh.
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