Wednesday, November 16, 2016

GE Acquires Bit Stew Systems and Wise.io

from GE Acquires Bit Stew Systems and Wise.io
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GE Digital announced it has acquired Bit Stew Systems in a deal worth $207.5 million, according to documents filed with the Supreme Court of British Columbia. The company will bring its data intelligence capabilities to Predix and other industrial solutions. Bit Stew applies its machine learning and artificial intelligence (AI) capabilities to automate the process of data modeling, mapping and ingestion, accelerating time to value for customers, such as BC Hydro, Pacific Gas & Electric and Scottish & Southern Energy.

GE Digital also acquired Wise.io, a leading machine learning and intelligent systems company. Wise.io’s deep machine learning expertise – combined with GE Digital’s existing data science talent and massive portfolio of industrial assets – will advance GE’s Digital Twin capabilities and solidify its role as a leader in industrial machine learning. GE and Wise.io did not disclose the acquisition price.


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