GE Invests in Industry Internet, Zynga & Facebook Change Relationship: Tech Business Roundup
General Electric Company (NYSE:GE) might make venture capital investments in tech start-ups and perhaps purchases as it steps up offerings of software built to analyze data collected from its industrial equipment, according to Bloomberg. Chief Executive Jeffrey Immelt says that the firm, which is the world’s biggest maker of jet engines, diesel locomotives and medical-imaging devices, has reserved approximately $100 million for the investments, which will complement employment at its new research center in San Ramon, California. Additionally, GE is making a $1 billion investment in the industrial Internet, recruiting employees from tech firms that include Cisco Systems (NASDAQ:CSCO) and SAP (NYSE:SAP) to help it improve the efficiency and reliability of its machines.
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Zynga (NASDAQ:ZNGA) and Facebook (NASDAQ:FB) have loosened the terms of their longstanding arrangement which will facilitate their attempts in competing for users on the world’s bigest social-networking service. The new rules will lessen the log-in, payment and advertising requirements for Zynga, which earns most of its income by marketing virtual goods in games played on Facebook. The new agreement removes the special status that the social-gaming leader Zynga has enjoyed since 2010 when Facebook Chief Executive Mark Zuckerberg and his Zynga alter-ego, Mark Pincus, formed their five-year pact.