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GE Forms Digital Unit to Expand $6 Billion Software Business

General Electric Co. formed a new division overseeing its software and analytics operations as the industrial manufacturer looks to fashion itself as a tech-savvy company.

GE Digital will combine its Silicon Valley software center, information technology and industrial security operations, GE said Monday. The new unit "will make GE a digital show site and grow our software and analytics enterprise from $6 billion in 2015 to a top 10 software company by 2020," Chief Executive Officer Jeffrey Immelt said in a statement.