GE Launches $1.2B IIoT Spin‑Off to Strengthen Digital Portfolio

General Electric (GE) has announced the creation of a stand‑alone company dedicated to delivering a full‑suite industrial Internet of Things (IIoT) software platform. The new venture will launch with $1.2 billion in annual software revenue, backed by GE’s existing global industrial client network.

The spin‑off will operate as a wholly owned, autonomous entity featuring its own brand, equity structure, and board of directors. It will integrate GE Digital’s IIoT offerings with GE Power’s digital and grid software solutions.

Targeting asset‑intensive sectors, the new IIoT firm will deliver specialized software for power, renewables, aviation, oil & gas, food & beverage, chemicals, consumer packaged goods, and mining.

In parallel, GE agreed to sell a majority stake in ServiceMax—its flagship field‑service management platform—to Silver Lake, a technology‑focused private‑equity investor. The divestiture is designed to free resources for the new venture, with the deal slated to close in 2019 pending standard regulatory approvals.

“As an early leader in IIoT, GE has built a strong business with its industrial customers thanks to deep domain knowledge and software expertise,” said H. Lawrence Culp Jr., GE chairman and CEO. “As an independently operated company, our digital business will be best positioned to advance our strategy to focus on our core verticals to deliver greater value for our customers and generate new value for shareholders.”

For additional details, visit GE’s website at www.ge.com.