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The Pivotal Initiative, the big cloud and big data startup backed by parents EMC(s emc) and VMware(s vmw), now has another big, scary backer: General Electric(s GE) is ponying up $105 million for a 10 percent stake in the company.
Bill Ruh, GE’s VP, will talk about the investment and the Pivotal One Enterprise PaaS later today on Pivotal’s coming out party at 1 p.m. Eastern Time, joining Paul Maritz, the former VMware CEO (pictured above) who’s heading up Pivotal.
GE, the huge conglomerate that makes everything from household appliances to medical devices to jet engines, has been talking up the industrial internet of late. And now GE’s Global Software Center in San Ramon, Calif., will to use the Pivotal technologies as a standard way to deliver data management across GE units, according to the joint announcement.
According to statement released Wednesday morningt:
“The companies also announced their intent to enter into a broad research and development and commercial agreement aimed at accelerating GE’s ability to create new analytic services and solutions for its customers. The investment and business agreement are each expected to be finalized in the second quarter of 2013 and are subject to standard regulatory approval and other closing conditions.”
Update: With GE aboard, EMC will own 62 percent; VMware 28 percent and GE 10 percent, according to a Pivotal spokesperson. Previously EMC owned 69 percent, VMware 31 percent. When the project — which took on assets from both companies — launched, it had 1,250 employees and represented about $300 million in revenue, EMC Chairman Joe Tucci said last month.
This report was updated at 9:22 a.m. PST with the new ownership stakes