Google Inc. (NASDAQ:GOOG) has developed some very popular services and tools over the years, ones that have become heavily relied upon by users and in some cases have been the standard for the segment. One such tool is the company’s Maps feature, which is considered a standard-bearerby which all other mapping services are compared. General Electric Company (NYSE:GE) is one of the most recognized and respected companies due to its longevity and its vibrant and diverse manufacturing sector, which CEO Jeff Immelt has indicated recently was going to be the new focus for the company as it streamlines itself following the selling of NBC Universal to Comcast Corporation (NASDAQ:CMCSA).
Google Inc. (NASDAQ:GOOG) and General Electric Company (NYSE:GE) – which are key stock positions in 126 and 60 equity hedge funds that we track, respectively – have announced a partnership where they have established a tool to benefit utility companies by providing locations of GE and/or utility assets overlaid upon a Google map. In the past, utility companies would have required separate technology, training and possible software mismatches. Google Maps are integrated into GE’s utility asset-location software called Smallworld. The new functionality is live currently, and a plugin that will backfill information for existing customers will be out next month.
“We are relentlessly looking at ways to bring value to our customers and this agreement brings together two world-leading solutions providers to help improve productivity,” said Bryan Friehauf of the digital energy division at General Electric Company (NYSE:GE). “Millions of people are already familiar with Google Maps as seen on their computer screens in the office or on mobile devices in the field. Now we’re able to bring that familiarity to our Smallworld products so that our customers can use a platform that’s completely customized for their assets and networks.”
What do you think about this partnership? We’d like your comments about how Google Inc. (NASDAQ:GOOG) and General Electric Company (NYSE:GE) can benefit or somehow be hampered by working together? Give us your thoughts in the comments section below.
DISCLOSURE: I own no positions in any stock mentioned.
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