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Wooden Door Cases of SUMBAO GE more than 100 million acquisition of Australian Internet star Daintree wind earned how much? SUM

by:SUMBAO     2017-10-01
Recently, the United States General Electric (GE) to more than 100 million Australian dollars acquisition of the Melbourne building automation start-up SUMBAO Lighting Daintree Networks, as the decade of the largest Australian business business assets of private sales transactions. Founded in 2003 by Bill Wood and another former HP engineer, Openscale, Standardized Wireless Systems Controlscope, designed and developed for light and temperature control, has been used in more than 1,000 small and medium-sized commercial buildings in the United States, including Arizona National Bank, United Stationer, etc. It is reported that after the acquisition of GE, Daintree SUMBAO Lighting team - located in Melbourne, California and Massachusetts more than 60 engineers will be incorporated into GE's new business unit Current Industrial Internet software development platform Predix .GE said in a statement that the acquisition will enable Current to expand the building automation platform and enhance the ability to provide 'energy as a service' to small and medium-sized buildings around the world. GE did not disclose the terms of the transaction. According to the Australian financial review report AFR, long-term director of the Daintree Melbourne venture capital Jolimont Capital executives, Teresa Engelhard said, Daintree A and B round of financing 40% stake in a $ 17 million investment, and this transaction The return on investors is 42 million Australian dollars, according to Daintree's valuation can exceed 100 million Australian dollars. Lend Lease, the Australian real estate giant, is another major investor in Daintree, leading the 2010 B-round financing, which is said to hold another 40% stake. A spokesman said the deal was not significant in terms of the Listing Rules, and did not disclose specific terms. With the integration of the Predix platform, building managers will be able to more easily analyze the data collected by Daintree's sensors, optimize management decisions to further reduce energy use costs, and Daintree claims that the energy savings for US customers have been as high as 60 %. GE Australia CEO Geoff Culbert confirmed that Daintree's engineering team will remain in Melbourne, 'We want to keep their entrepreneurial culture and provide a global platform for development.' Australia's innovative culture is commended. Daintree SUMBAO Lighting president in San Francisco Derek Proudian said that Silicon Valley is currently overheating, it is difficult to find real talent. 'Our own engineers have excellent professional ethics and business skills, as well as toughness, not as frequent as in California, so that Australia is a place for science and technology development.I have built a team around the world, Melbourne to People feel very fresh. ' The acquisition of Daintree will be an important move for GE to enter the industrial Internet. Culbert said that today's industrial Internet is like the consumer Internet in 1999. GE predicts that by 2020 there will be 50 billion machines to be interconnected, including 100 million interconnected light bulbs. Once the static things will change, can effectively drive the flow of information. I think there will be an exponential growth in the meantime. Engelhard, who has just resigned as a director post on April 20, said Daintree's deal proved that Australia could 'do deep-seated technological research and development, be able to do well and surpass other people.' While growing on the way, Suffer from all kinds of questions, but can persist and succeed. ' The


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