The electrical engineering concern General Electric is going to sell the key parts of its digital business within the large-scale restructuring, which the company started, as per the informed sources of The Wall Street Journal (WSJ), finance.ua reports.
General Electric created the standalone division for developing software – GE Digital – in 2015, separating it from its business on production of jet engines, power turbines and medical diagnostic equipment. The number of staff of the division amounted to 28 thousand people.
Former CEO of General Electric Jeff Immelt created GE Digital to make his company “digital industrial”. However, the new CEO John Flannery significantly decreased the ambitions of General Electric in respect to Industrial Internet of Things.
According to WSI, General Electric addressed to one of investment banks for arranging the auction, selling GE Digital.
The interlocutors of the edition do not know what particular assets GE plans to sell and what amount the U.S. company wants to earn. It is only noted that the potential buyers of GE Digital or the share of this division include the software developers and industrial companies, which actively invest in digitization of the business.
