American Industrial Partners has quietly renamed its recently acquired Current by GE business as the infinitely more mellifluous “GE Current, a Daintree Company”. The original moniker had already been tweaked from the even uglier “Current, powered by GE”.
In April 2019, GE announced it had completed the sale of its Current, powered by GE business unit to the New York-based private equity firm American Industrial Partners. (The consumer lighting business of GE Lighting was not included as part of the transaction.)
The newly featured Daintree connection refers to Daintree Networks, a digital controls company for lighting and building automation that GE had acquired in 2016 and rolled into the Current by GE ambit.
“The name reflects the business’ strong lighting foundation and heritage and includes Daintree as a signal towards the importance of a digital future,” says a LinkedIn post by GE Current dated a month ago.
So this could be the beginning of the end of the GE Current name; in fact the ‘GE’ part is already being dropped in practice, with recent press releases from the company shortening the name simply to ‘Current’.
The Daintree connection would be certainly at the core of Current’s mission to apply IoT smart connections to building services including lighting to improve efficiency and harvest data from operations. Moving further in that direction would probably mean a reduced emphasis on the retrofit business that presently provides a lot of Current’s revenue and is associated with the name.
AIP did not make a fuss about the name change, which only emerged in public on a GE Current press release about a deal with the US commercial sign-lighting vendor Principal Lighting Group.
According to the business’s current boilerplate, “Current is the digital engine for intelligent environments. Current blends advanced LED technology with networked sensors and software to make commercial buildings, retail stores, industrial facilities and cities more energy efficient and productive”.