Boston, Massachusetts-based General Electric is continuing its restructuring and cost-cutting efforts by hiring an investment bank to auction off a portion of its San Ramon, California-based GE Digital, a signature initiative of former CEO, Jeff Immelt.
It is unknown which assets will be sold and how many employees will be affected by the sale or discontinuance of divisions and departments.
GE apparently plans to keep certain software-based process control and monitoring products for internal use and may no longer make these software products available to external companies. There is tremendous value residing in the software library and it remains to be seen how this will be deployed in the future. For now, it is wait and watch – and, of course, plan ahead.
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