GE is investing $105M to obtain a 10% stake in EMC (EMC +0.9%) and VMware's (VMW -4.7%) Pivotal...
Apr 24 2013, 11:20 ET
GE is investing $105M to obtain a 10% stake in EMC (EMC +0.9%) and VMware's (VMW -4.7%) Pivotal big data/app development tool spinoff ahead of an IPO; given the valuations assigned to peers, GE might've gotten a good deal. GE and Pivotal are also forming an R&D partnership "aimed at accelerating GE's ability to create new analytic services and solutions," with an eye towards industrial, energy, and healthcare applications. The announcement comes as VMware declines due to soft guidance marked by slumping license growth. EMC is faring better after reaffirming guidance in spite of a Q1 miss.