Press release from PR Newswire
Pivotal Announces Planned Strategic Investment from GE
Wednesday, April 24, 2013
Pivotal Announces Planned Strategic Investment from GE07:02 EDT Wednesday, April 24, 2013
Pivotal's Next Generation Enterprise Platform-as-a-Service to Accelerate GE's Ability to Create New Analytic Services and Solutions for the Industrial Internet
SAN FRANCISCO, April 24, 2013 /PRNewswire/ --
- Pivotal today announced that GE plans to make a strategic investment of approximately $105 million, representing a 10% equity stake in the company.
- The parties also signed a term sheet setting forth a framework for a broad research and development and commercial agreement.
- GE's Software Center of Excellence will use Pivotal's technologies as a standard source for delivering data analytics and cloud architecture.
- Paul Maritz, members of the Pivotal leadership team, and GE's Vice President and Corporate Officer Bill Ruh will further discuss this partnership and unveil the plans for the Pivotal One Enterprise PaaS during a live streaming event today April 24, 2013 at 10:00 am Pacific/1:00 pm Eastern. To join visit gopivotal.com.
Pivotal, the company setting the new standard for enterprise PaaS, today announced that GE plans to invest approximately $105 million in Pivotal. The companies also announced their intent to enter into a broad research and development and commercial agreement aimed at accelerating GE's ability to create new analytic services and solutions for its customers. The investment and business agreement are each expected to be finalized in the second quarter of 2013 and are subject to standard regulatory approval and other closing conditions.
The investment in Pivotal and new business agreement align with GE's focus on the Industrial Internet. Over the past two decades, technology has connected people globally and created unprecedented opportunities for business and consumers. In the next decade, the Internet will also transform industries like aviation, rail, energy, oil & gas, infrastructure and healthcare, connecting human insight with machine intelligence, advanced analytics and low-cost-sensing to drive new levels of productivity and efficiency for global industries.
The partnership with Pivotal will be key for GE's Global Software Center headquartered in San Ramon, CA. The Center is working to develop a software platform that GE will deliver as a service to industrial customers in aviation, transportation, healthcare, energy and manufacturing. Pivotal will be a key partnership for enabling applications and analytics in the cloud, and GE's Software Center plans to use these technologies as a standard source for delivering data management. GE will use the software platform, powered by Pivotal technology, across its businesses.
Paul Maritz, CEO, Pivotal"We are experiencing a major change in the wide-scale move to cloud computing, which includes both infrastructure and the transformation of how applications will be built and used based on cloud and mobility. This transformation is also happening in enterprises where their environments must adapt to a world that is data-centric, requires agility and real-time response. As one of the world's largest industrial companies, GE's investment underscores the profound change in business and the historic opportunity that Pivotal has in delivering a new platform to help GE's customers succeed."
Bill Ruh, Vice President and Corporate Officer, GE Global Software Center "It's no secret that the cloud and Big Data are driving dramatic business transformation enabling an Industrial Internet. At the heart of it is that machines can be intelligent, connected, and that we can use software to analyze the information coming out of them. To support this next frontier requires an architectural shift in how our services are built and delivered. Pivotal is creating a platform that brings the best of the Internet - rapid application development, data analytics and cloud architecture - to enterprises. This is aligned with many of the things we are doing at GE to help accelerate our delivery of innovation, and to bring a productivity revolution that will have a positive impact on all of us."
- Report: GE Invests in Solutions for the Industrial Internet
- Paul Maritz on the Pivotal Initiative at the EMC VMware Strategic Forum 2013
- Follow Pivotal on Twitter @gopivotal and LinkedIn
About PivotalPivotal is building a new platform for a new era, setting the standard for Enterprise Platform-as-a-Service (PaaS). The company's mission is to enable customers to build a new class of applications, leveraging big and fast data, doing all of this with the power of cloud independence.
Uniting selected technology, people and programs from EMC and VMware, the following products and services are now part of Pivotal: Greenplum®, Cloud Foundry, Spring, Cetas, Pivotal Labs®, GemFire® and other products from the VMware vFabric? Suite.
About GEGE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE's Investor Relations website at www.ge.com/investor and our corporate blog at www.gereports.com, as well as GE's Facebook page and Twitter accounts, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted.
Pivotal, Pivotal Labs, Pivotal One, Pivotal HD, HAWQ, Cloud Foundry, Greenplum, GemFire, RabbitMQ, and OpenChorus are either registered trademarks or trademarks of GoPivotal,Inc. in the United States and other countries. All other products and/or services are trademarks of their respective owners.
For further information: Pivotal, David Oro, +1-415-885-9898, firstname.lastname@example.org, GE, Holly Gilthorpe, telephone, +1-925-242-6896, mobile, +1-408-644-0416, email@example.com