GE’s multibillion-dollar digital business, which includes its Predix software system and applications, has been struggling with technical issues and weakening sales. GE has been seeking partners to invest in GE Digital as it narrowed the target markets for the division and abandoned plans to build a cloud platform, instead partnering with Amazon.com Inc (AMZN.O) and Microsoft Corp (MSFT.O) clouds. Faced with cash constraints and falling profits at its large power business, GE chose to reduce investment in the digital unit and focus on partnerships. …read more
Source:: Yahoo Finance
