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General Electric has acquired the Israeli-Japanese startup IQP Corporation for an estimated $30 million to $40 million, though the parties have not released the amounts involved. IQP makes a development environment for apps for the “Internet of Things” that does not require writing computer code.
IQP was founded by Guy Kaplinsky and his wife Maki Kaplinsky in Japan in 2011, but it has its research and development center in Herzliya in Israel. IQP moved its headquarters from Japan to Silicon Valley in 2016 to better help enable the company to expand. So far, about $10 million has been invested in the firm, $6 million from Fujitsu and $4 million from Kaplinsky, who owns 80 percent of the company’s shares.
The company employs 15 people, who are expected to be integrated into GE’s Predix software project, as part of GE Digital’s development center in Herzliya. GE and IQP have cooperated in the past as part of GE Digital’s startup accelerator in Herzliya
Among IQP’s customers are Toyota, Fujitsu and Motorola. The apps are relatively simple to build, similar to using Wix for building websites.
Keywords: Internet of Things, Predix, ARC Advisory Group.