[December 11, 2014] |
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GE Opens Predix Software Platform to SoftBank Telecom in First Licensing Deal
GE (NYSE:GE)
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SoftBank, the Japanese telecommunications and Internet giant, is the first
to license GE's PredixTM platform for the Industrial
Internet and is expected to bring custom Predix industry apps to
market in early 2015.
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This partnership expands the reach of Predix to new markets and
industries, and builds on the $1B+ PredictivityTM
services revenue GE expects this year from its own software
solutions.
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SoftBank will gain access to GE's software platform in
the partnership, and will develop targeted apps for industries such as
shipping and manufacturing. SoftBank will leverage GE's Predix App
Factory expertise and methodology to scale production.
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GE and SoftBank forecast a potential $200M+ revenue opportunity
over the next five years in Japan alone; the companies will
operate with arevenue-share model.
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Looking across all industries, the convergence of software and
hardware represents a $12B opportunity in Japan and a $200B+
opportunity globally for organizations seeking business
improvement and cost reduction based on data analysis.
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New apps created through the partnership have the potential to improve
service value by predicting failures before they happen and by
optimizing supply chains, distribution inventory and product
development.
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"The future of industry is software that connects machines to massive
amounts of data quickly and intelligently. GE is taking the first step
toward reaching new industries across the world by opening its Predix
software platform to SoftBank," said Bill Ruh, vice president, GE
Software. "Together, GE and SoftBank see the enormous potential of the
predictive analytics market in Asia and globally. This partnership
will enable SoftBank to develop and deliver revenue-generating apps
for big data analytics, asset management and field services."
Click here to view visual release - http://invent.ge/gesoftbank
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