VC-backed Bit Stew Systems bought by strategic investor GE
Bit Stew Systems Inc, a Vancouver data integration platform for the industrial internet, has been acquired by GE Digital. Terms were not disclosed; however, the Globe and Mail reported the deal's value at US$153 million. GE was previously a strategic investor in Bit Stew, leading its US$17.2 million Series B financing in May 2015. The company's data intelligence capabilities will be combined with Predix, GE’s operating system for the industrial internet, and will help GE advance its product offerings. Led by CEO Kevin Collins, Bit Stew first raised funding in a Yaletown Partners-led Series A round in late 2013. Its other investors included BDC Capital, Cisco Systems and Kensington Capital Partners.
15 November 2016•3 mins read
