General Electric Company (GE) recently signed an agreement to acquire Wurldtech - a Vancouver-based private company for an undisclosed amount. Through this acquisition, GE intends to advance cyber security solutions for critical infrastructure and Operations Technology (:OT) globally. Post acquisition, Wurldtech will operate as a wholly owned subsidiary of General Electric.
Wurldtech, a leader in cyber security solutions with it focus on operations technology, offer its solutions and services in complex environments such as oil refineries, power transmission grids, medical devices and smart meters. Wurldtech services provide test products that not only check operational vulnerabilities, but also protect operations-technology networks and certify them. Wurldtech’s unique security software ensures protection of the operations technology that connects people, data and machines in an effective manner.
This strategic move by General Electric is expected to boost the reliability of its Industrial Internet operations. Companies continue to thrive under growing threats from the cyber space and General Electric believes the acquisition of Wurldtech will fully equip it to provide high-class cyber security solutions, thereby enabling reduced risk and costs of a cyber attack.
General Electric is one of the most diversified technologies and financial service corporations in the world. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital. GE Power & Water produces gas, steam and aero derivative turbines, generators, combined cycle systems and renewable energy solutions, and also provides water treatment services and equipments.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look at present include Icahn Enterprises, L.P. (IEP) with a Zacks Rank #1 (Strong Buy), and Carlisle Companies Incorporated (CSL) and ITT Corporation (ITT), both with a Zacks Rank #2 (Buy).