General Electric is saying goodbye to the light bulb. The conglomerate is shedding a struggling business founded by Thomas Edison more than a century ago.
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After years of failing to find a buyer, GE announced Wednesday it will sell its 129-year-old lighting division to smart home company Savant Systems.The deal marks the latest step in dismantling the GE empire, which is saddled with too much debt and poor-performing businesses. GE has previously unloaded units that make microwaves, locomotives and washing machines as well as NBC Universal and much of its troubled financial arm.
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