GE Digital builds up its global presence with acquisitions, partnerships

GE on Tuesday announced it is acquiring Bit Stew and Wise.io, two companies that will bolster its industrial Internet of Things (IIoT) offerings with new edge capabilities and machine learning -- crucial IIoT competencies. The acquisitions were announced at the Minds Machines conference, where GE also announced updates to Predix, its IIoT platform. They also announced a new collaborative app development program for independent software vendors on the Predix platform, which is launching with partners like Box, Pitney Bowes and Ericsson. Through its acquisitions and partnerships, GE is attempting to build a robust Predix ecosystem that cements its status as a digital industrial leader around the globe. GE says it's quickly building up business in the industrial software market: Its software revenues are on target to increase 20 percent in 2016.