General Electric (GE) has unveiled plans to separate and rebrand its GE Digital business to establish an independent internet of things firm. GE said the new entity would have a proprietary equity structure and independent board of directors, with more details to follow in Q1 2019. The stock largely moved higher after J.P. Morgan analyst Stephen Tusa, a longtime GE bear, upgraded his rating to neutral from underweight. The company will be called “GE’s Internet of Things” (IoT) and it is expected that the firm will focus on IoT (connected things) as well as artificial intelligence (AI).
General Electric (GE) has unveiled plans to separate and rebrand its GE Digital business to establish an independent internet of things firm. GE said the new entity would have a proprietary equity structure and independent board of directors, with more details to follow in Q1 2019. The company will be called “GE’s Internet of Things” (IoT) and it is expected that the firm will focus on IoT (connected things) as well as artificial intelligence (AI).