{"id":654160,"date":"2013-04-24T09:53:05","date_gmt":"2013-04-24T13:53:05","guid":{"rendered":"http:\/\/gigaom.com\/?p=633944"},"modified":"2013-04-24T09:53:05","modified_gmt":"2013-04-24T13:53:05","slug":"ge-to-pour-105m-into-emc-and-vmwares-pivotal-initiative","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/654160","title":{"rendered":"GE to pour $105M into EMC and VMware\u2019s Pivotal Initiative"},"content":{"rendered":"

The Pivotal Initiative<\/a>, the big cloud and big data startup backed by parents EMC and VMware, now has another big, scary backer: General Electric is ponying up $105 million <\/a>for a 10 percent stake in the company.<\/p>\n

Bill Ruh<\/a>, GE’s VP, will talk about the investment and the Pivotal One Enterprise PaaS later today on Pivotal’s coming out party at 1 p.m. Eastern Time, joining Paul Maritz, the former VMware CEO who’s heading up Pivotal.<\/p>\n

GE, the huge conglomerate that makes everything from household appliances to medical devices to jet engines, has been talking up the industrial internet<\/a> of late.<\/p>\n

According to the release announcing the planned investment:<\/p>\n

\n

“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.”<\/p>\n<\/blockquote>\n

When EMC and VMware formally announced the effort last month, VMware owned 69 percent to EMC’s 31 percent. The nascent effort — which took on assets from both companies — had 1,250 employees and represented about $300 million in revenue, according to EMC Chairman Joe Tucci.<\/p>\n

<\/blockquote>\n

\"\"<\/p>\n

<\/a><\/p>\n

Related research and analysis from GigaOM Pro:<\/strong>
Subscriber content. Sign up for a free trial<\/a>.<\/p>\n