GE To Sell Current Startup To American Industrial Partners - Quick Facts

(RTTNews) - GE (GE) announced a proposed agreement to sell its Current, powered by GE business to American Industrial Partners, a New York-based private equity firm that focuses on buying, improving and growing industrial businesses. As part of the proposed sale, Current would maintain use of the GE brand under a licensing agreement.

Current is the digital engine for intelligent environments. The Current startup blends advanced LED technology with networked sensors and software to make commercial buildings, retail stores, industrial facilities and cities more energy efficient & productive.

The company noted that the North American consumer lighting business of GE Lighting is not included as part of the proposed transaction. GE remains actively engaged in the process to sell this business.