M&A Deal Summary

General Electric Acquires Bit Stew Systems

On November 15, 2016, General Electric acquired internet software and services company Bit Stew Systems

Acquisition Highlights
  • This is General Electric’s 2nd transaction in the Internet Software and Services sector.
  • This is General Electric’s 2nd transaction in Canada.
  • This is General Electric’s 2nd transaction in British Columbia.

M&A Deal Summary
Date 2016-11-15
Target Bit Stew Systems
Sector Internet Software and Services
Buyer(s) General Electric
Deal Type Add-on Acquisition

Target

Bit Stew Systems

Burnaby, British Columbia, Canada
Bit Stew Systems, Inc. provides the premier platform for handling complex data integration, data analysis, and predictive automation for connected devices on the Industrial Internet of Things (IIoT). Purpose-built for the IIoT, Bit Stew’s MIx Core™ data intelligence platform solves the data integration challenge at scale for complex industrial data environments. Bit Stew has earned global recognition by being named to Gartner’s Cool Vendors List and as Frost & Sullivan’s Entrepreneurial Company of the Year – North American Service Solutions. In 2015, Bit Stew was ranked as one of the Top 100 Analytics Companies and Top 100 IoT Startups by Forbes. Incorporated in 2009, Bit Stew has offices in Canada, the USA, Australia and Europe.

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Buyer(S) 1

Buyer

General Electric

Boston, Massachusetts, United States
Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 67.6B USD (2023)
DESCRIPTION

General Electric is a diversified technology and financial services corporation. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 40 of 41
Sector (Internet Software and Services) 2 of 2
Type (Add-on Acquisition) 30 of 30
State (British Columbia) 2 of 2
Country (Canada) 2 of 2
Year (2016) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-15 Wise.io

Berkeley, California, United States

Wise.io, Inc. is building machine learning applications for the customer experience market so all companies can benefit from the power of machine learning. Wise.io was founded in 2012 by some of the world’s leading experts in astrophysics, statistics, computer science, and machine learning. Working together for over a decade, the team created automated machine-learning frameworks that were used to discover and understand some of the rarest phenomena in the universe, from peculiar stars to exploding white dwarfs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Lufkin

Missouri City, Texas, United States

Lufkin is a global provider of rod lift products, technologies, services and solutions, including automated control and optimization equipment and software for rod lift equipment to the oil and gas industry. Lufkin manufactures a complete line of surface pumping units, downhole sucker rod pumps and automation systems in six manufacturing and assembly facilities worldwide. Lufkin has an extensive global service footprint that operates throughout the oil-producing world. Lufkin was founded in 1902 and is based in Missouri City, Texas.

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Mergr

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