GE Seeks Buyer For Digital Biz: WSJ

(RTTNews) - Industrial conglomerate General Electric Co. (GE), is reportedly searching for a buyer for parts of its digital business.

According to the Wall Street Journal, General Electric has hired an investment bank to run an auction for its digital assets. However, it is not clear what GE exactly wants to divest or how much proceeds the sale could generate.

While the process is at an early stage, possible buyers include software companies and other industrial players seeking to become more digital-focused, the report said.

GE's digital business, which includes Predix software system and applications, was established as a standalone unit in 2015. However, it has been struggling with technical issues and weakening sales.