GE Digital to sell majority of ServiceMax to Silver Lake

GE Digital said Dec. 13 that it is selling a majority stake in ServiceMax to Silver Lake. Financial terms weren’t announced. ServiceMax, of Pleasonton, California, provides cloud-based software productivity tools for field service technicians. GE will retain a 10 percent stake. Morgan Stanley & Co LLC served as financial adviser and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal adviser to Silver Lake.

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