General Electric will set aside a separate software development business for IIoT

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The GE Digital division of American General Electric will be allocated to a separate company, which will remain part of General Electric, but will promote its products under its own brand. A General Electric statement said the new company will be developing a comprehensive software portfolio for the IIoT industrial Internet of Things. As expected, its annual income will be about 1 billion 200 million dollars. The company's decision to set GE Digital into a separate business led to a 12% increase in General Electric shares during trading on Friday.

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