GE Acquires Bit Stew Systems and Wise.io


Nov 16 2016

GE Digital announced it has acquired Bit Stew Systems in a deal worth $153 million. 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.



More Details

Highlights

+ Bit Stew was founded in 2005 and had raised $24.32M in 4 Rounds from 6 Investors with the most recent round being a $991.61k / Series C in June of 2016

+ Wise.io had raised $3.58M in 4 Rounds from 3 Investors with the most recent being a July 2014 $965k Series A

Additional Coverage

- http://vancouversun.com/business/local-business/ge-digital-acquires-burnabys-bit-stew-in-207-million-deal

- http://fortune.com/2016/11/15/general-electric-artificial-intelligence/

- https://www.fastcompany.com/3065692/mind-and-machine/ge-wants-to-be-the-next-artificial-intelligence-powerhouse





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