Bit Stew Systems of Burnaby, B.C., Canada, has been acquired by GE Digital. This brings Bit Stew’s data intelligence capabilities to Predix, GE’s operating system for the industrial internet, and its industrial applications such as Asset Performance Management (APM).
Local reports in Vancouver’s Globe & Mail indicate the deal values Bit Stew Systems at US$153 million.
Bit Stew’s MIx Core™ is purpose-built to handle complex data integration and analysis across connected devices, OT and IT systems, and external sources. Unlike conventional ETL tools, MIx Core automates data integration by applying machine intelligence to the process, which can reduce project costs by an average of 90% compared to traditional approaches.
“We are pleased to welcome Bit Stew to the GE Digital family. The integration of our technologies will provide the Predix platform with a greater capability to integrate data while it is in motion from the edge to the cloud,” said Harel Kodesh, CTO at GE Digital. “This combination will help us to accelerate our industrial offerings, providing customers with contextual understanding of their assets and operations.”
Kevin Collins, CEO and co-founder of Bit Stew said, “This is an exciting day for Bit Stew as we join the GE Digital family. With this acquisition, Bit Stew gains access to GE’s industrial ecosystem, customer base, and deep domain expertise. GE’s vision of a software-defined future strongly aligns with Bit Stew’s vision and capabilities and we are excited about the pivotal role our technology can play in driving the industrial ecosystem forward.”
In May 2015, GE Ventures led Bit Stew’s Series B investment round. Since that time, GE Digital and Bit Stew have worked together with several large customers to rapidly integrate complex sources of unstructured and structured data.
Bit Stew has approximately 100 employees and is headquartered in Canada with offices in the USA, Australia, and Europe. The company serves customers in the oil & gas, power, aviation, and manufacturing industries.
GE Digital connects streams of machine data to powerful analytics, providing industrial companies with insights to manage assets and operations more efficiently.
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