GE Opens Predix Software Platform to SoftBank Telecom in First Licensing Deal

GE (NYSE:GE)

  • 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.
  • 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.
  • 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.
  • GE and SoftBank forecast a potential $200M+ revenue opportunity over the next five years in Japan alone; the companies will operate with a revenue-share model.
  • 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.
  • 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.
  • “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

Contacts:

Media
GE
Holly Gilthorpe, 925-242-6896
Gilthorpe@ge.com
or
GE
Jessica Oster, 203-373-2727
Jessica.Oster@ge.com
or
The OutCast Agency
John O’Brien, 415-345-4721
JOBrien@theoutcastagency.com

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