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TECHNOLOGY | MORE ON TECH

GE to Offer Internet Services With E-Commerce Unit

March 07, 2000|Bloomberg News

General Electric Co., already one of the top providers of electronic purchasing systems, said it has formed an electronic-commerce unit that will compete with companies such as Commerce One Inc. and Ariba Inc.

The conglomerate's GE Information Services unit competes with International Business Machines Corp. for trading systems between companies that order, ship and track supplies and products. Now it will offer data exchange, purchasing software and services, and trading-partner exchanges over the Internet.

The company split GE Information Services into two units, investing an undisclosed amount in the resulting businesses. The Internet business, which has about 1,500 employees, is called GE Global Exchange Services. A spokesman declined to disclose how much the company expects in revenue in its first year but said it will bring in more than $1 billion in four to five years.

Fairfield, Conn.-based GE closed off $1.94 at $137.44 on the New York Stock Exchange.

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