The acquisition comes after a two-year relationship between GE and Nurego, in which the startup operated GE’s platform Predix, software that GE called “the operating system for the Industrial Internet”. The platform also has several native apps for industrial IoT (IIOT) companies to use. Apparently the company has become indispensible for the Predix platform.
The company is the byproduct of a collaboration between The Hive and EMC (Dell). The Hive, Paul Maritz and EMC were the company's primary investors, and Maritz holds a seat on the board.
IIoT is a huge market, and it is estimated that it will be worth $151.01 billion by 2020. GE is one of biggest players in the sector globally.
Read more: GeekTime