# EU clears GE and Rosneft joint venture for industrial IoT

The European Commission approved the acquisition of joint control over a Russian joint venture by General Electric and Rosneft subsidiary Sibintek, focusing on industrial IoT applications based on GE's Predix platform.

- Type: Acquisition
- Announced: 2018-04-06
- Where: Russia
- Status: announced
- Products: industrial IoT applications, Predix platform
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [General Electric](https://endata.com/companies/1262.md) (investor)
- [Rosneft](https://endata.com/companies/8842.md) (investor)
- [Sibintek](https://endata.com/companies/18479.md) (investor)

## Sources

- [iene.eu](https://www.iene.eu/eu-clears-acquisition-of-general-electric-rosneft-joint-venture-p4139.html), 2018-04-10: "The European Commission said on April 6 it approved under the EU Merger Regulation the acquisition of joint control over a joint venture based in Russia by the US’ General Electric Company (GE) and Rosneft Oil Company."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.