General Electric (GE) Acquires ShipXpress
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
GE Transportation (NYSE: GE) announced its acquisition of ShipXpress, a top provider of cloud-based software solutions that enable transportation, industrial, and commodities businesses to efficiently operate with supply chain partners.
The deal extends GE Transportation’s portfolio of solutions into the logistics value chain, giving it new offerings for shippers, and expanding its ability to deliver information and transaction services for railroad customers around the world. This acquisition also deepens GE Transportation’s domain expertise, enriching the division with a talent pool of nearly 200 industry, technical, and software development experts.
“By combining ShipXpress’ innovative software products with GE’s sensing technology and industrial-strength platform Predix, we’ll deliver the industry’s most advanced, scalable cloud-based solution to accelerate the movement of goods and information, and enhance supply chain performance and customer service,” said Jamie Miller, GE Transportation President and CEO. “Our combined capabilities will help short-line railroads better analyze their rail operations, car accounting and supply chain information, and deliver a data-rich path to ongoing performance improvement, asset and operations optimization.”
"We are thrilled to become part of GE Transportation’s Digital Solutions team and transform the role of rail, truck and other modes of transport in global supply chain management," said Raghu Misra, Co-CEO and Co-Founder of ShipXpress. Added Seth Maerowitz, Co-CEO and Co-Founder of ShipXpress, "Through this integration, we will help our customers achieve the promise of real-time collaboration among trading partners, the industrial internet; greater control, lower costs and increased operational efficiencies."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- B&G Foods (BGS) Acquires Victoria Fine Foods for $70M
- Franklin Street Properties (FSP) Acquires Denver-Located Dominion Towers
- SoTHERLY Hotels (SOHO) Approves $10M Stock Buyback Plan
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!