The most significant part of the indictment is that this is the first time that the United States has tied these economic and intellectual property thefts to the Chinese government. In a significant development, as per an indictment unsealed by the U.S. Justice Department, a Chinese businessman as well as a former engineer working at…
GE will however retain a 10% equity stake in ServiceMax, a business that it acquired in 2016 for $915 million. General Electric Co stated, its digital unit will be selling its majority stake in cloud-based service provider ServiceMax. GE will sell its stake to private equity firm Silver Lake. However, GE will retain a 10%…
Later today, GE and Microsoft are set to announce a deepening of their partnership revolving around GE’s industrial internet platform and Microsoft’s Azure cloud platform. As a result, GE will be in a better position to tap the vast majority of industries who use Microsoft’s software. A senior executive from GE has disclosed that…
ABB sees a yearly potential for cost synergies of $200 million arising as a result of this acquisition. On Monday, Swiss engineering giant ABB stated it will be acquiring General Electric’s Industrial Solutions for $2.6 billion. The deal is help expand its footprint in the North American market. As a result of the deal, Zurich-based…
This is significant since GE is aiming to develop next generation thermal power technology and control systems. As per a statement from the Pentagon, General Electric Co has been awarded a defense contract worth up to $409 million. The contract is for developing next-generation thermal power plants and control systems, as part of a government…
This appointment is effective from August 1. With General Electric’s Chief Executive, Jeff Immelt, 61, retiring the company has selected John Flannery, who currently heads GE’s healthcare unit, as his replacement. Flannery will become GE’s CEO and chairman from August 1. With the news hitting the market, the company’s shares rose by 3.6% in premarket…
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