Palo Alto, CA – August 9, 2017 – IQP Corporation, a leader and pioneer of code-free application development, announced that they have been acquired by General Electric (NYSE: GE) and will join GE Digital. GE hopes that IQP’s technology will help jump-start adoption amongst partners and customers for its Predix IoT platform. IQP’s partners and customers can build IQP applications using a web-based visual programming interface and ready-to-use design templates that are optimized to view on all mobile phones, tablets and PCs.
Guy Kaplinsky, Founder & CEO of IQP, said “IQP helps eliminate IT bottlenecks and lengthy app development cycles by enabling people with no programming skills to build applications in a matter of hours or days. GE Digital’s acquisition underscores our belief that IQP has been a thought leader in making code-free IoT application development accessible to everyone.”
GE Digital has been highly acquisitive over the past year to improve its Industrial IoT business. With IQP’s functionality on Predix Studio, more industrial developers can create their own IIoT applications. This can facilitate increased adoption of GE’s Predix IoT Platform amongst their partners and customers.
Bill Ruh, CEO of GE Digital, said “By adding IQP to Predix Studio, our integrated workflow for rapid application development, more average industrial developers, including IT, operations and finance professionals, can now create their own IIoT applications – giving our customers the tools they need to build customized applications that make sense for their business. This integration makes Predix Studio the only high productivity application development tool purpose built for the IIoT. We know industry, the IIoT and digital transformation; and together with IQP, we are now making Predix and our industrial applications more accessible to all.”
Woodside Capital Partners served as the exclusive financial advisor to IQP in this transaction.
IQP Corporation was founded in 2011 in Tokyo, Japan and maintains a center of excellence in Tel Aviv, Israel. In 2016, IQP made the leap to the US market and opened its headquarters in Silicon Valley. IQP offers a complete development solution, from connectivity with sensors and control devices to app customization and design templates. IQP has been adopted by solution providers such as IBM and Fujitsu and used by companies as a rapid prototyping tool. The solution has received industry recognition for its ability to reduce app development time by up to 80%. The Company previously received an investment from Fujitsu and SBI Investment. www.iqp-iot.com
About GE Digital
GE Digital is the leading software company for the Industrial Internet, reimagining industry’s infrastructure by connecting software, apps and analytics to industrial businesses. Powered by Predix, GE Digital creates software to design, build, operate, and manage the entire asset lifecycle—enabling industrial businesses to operate faster, smarter and more efficiently. www.ge.com/digital
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology and life sciences sectors. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001 with leading domain experience in software, Internet services, electronic communications and materials, and healthcare. Woodside Capital Partners is headquartered in Silicon Valley, with an office in London. Securities offered through Woodside Capital Securities LLC, member FINRA/SIPC. For more information, please visit www.woodsidecap.com