GE Digital acquires Burnaby’s Bit Stew in $207-million deal
November 16, 2016
Excerpt from Vancouver Sun – The architects of B.C. Hydro’s Grid Director smart meter analytics platform already have 100 employees, a figure that is expected to grow as Bit Stew gains access to GE Digital’s global industrial customer base.
The deal is worth $207.5 million, according to documents filed with the Supreme Court of British Columbia.
The Bit Stew deal is one of the biggest tech acquisitions in Western Canada in a decade, but it was not GE’s only purchase of the week. General Electric’s digital arm also spent more than $1 billion on another IIoT player, ServiceMax, which specializes in cloud-based inventory management and analytic tools for field technicians.
Author: Vancouver Sun
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