GE Digital buys ServiceMax for $915 million

General Electric Co.'s GE Digital unit announced Monday a deal to buy cloud-based field service management company ServiceMax for $915 million, as it expands its industrial-internet capabilities. "Improved productivity is critical for the Industrial Internet and digitizing field services is a cornerstone of a successful digital industrial strategy," said GE Digital Chief Executive Bull Ruh. The deal is expected to close in January. GE's stock, which slipped 0.6% in afternoon trade, has lost 2% year to date, while the Dow Jones Industrial Average has gained 8.2%.

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