GE have just announced a deal that saw its GE Digital division snapping up the machine learning startup Wise.io in a deal that has been kept so far quite quiet. The company has acquired Wise.io in an attempt to strengthen its own deep learning techniques with the business. They will also be looking to have the team from Wise make improvements to their own Digital Twin services that are focused on the Internet of Things (IoT).
Earlier in the year, the startup introduced automated support systems into the business models of both Salesforce and Zendesk and its this focus on customer service that’s helped to get them noticed and separate them from the rest. For GE, this isn’t the first acquisition they’ve made lately. Others include the purchase of ServiceMax for nearly $1 billion ($915 million to be exact) and Bit Stew earlier in the year also. With the acquisition of Wise, it has been said that they will continue to operate as normal as will GE, but the added benefit for them is that they will now gain a whole new database of customers.
GE are expecting a very healthy return on all this investment in acquisitions and have predicted that by 2020 $15 billion in revenue will be bought in by software, with around $4 billion being generated by sales from new customers. So, expect to be hearing much more of GE soon as they look to make use of all the new talent and tools they have just amalgamated.
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