GE Forms New Software Company in Overhaul of Digital Strategy
GE is creating an independent company for its software business
• The new operation, wholly owned by GE, will have about $1.2 billion of existing software revenue
• The company also agreed to sell a majority stake in software maker ServiceMax to investor Silver Lake
• The moves mark a major shift in GE’s digital strategy as new CEO Larry Culp tries to pull it out of one of its biggest crises