GE buys Israeli-Japanese startup for $40m
According to reports, General Electric (GE) has purchased Israeli-Japanese startup IQP Corporation for an estimated $40 million.
IQP creates a development environment for apps for the “Internet of Things” that does not require writing computer code.
The company employs 15 people, who are expected to be integrated into GE’s Predix software project, as part of GE Digital’s development center in Herzliya.
“We knew and worked with the company over the last year and I know that the product will grow there and the probability the product will become the word standard is high,“ said Guy Kaplinsky, founder of IQP.
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