GE completes $3.2bn acquisition of Converteam

GE Energy (NYSE: GE) says it has completed the $3.2 billion acquisition of Converteam, a provider of power-conversion and automation systems and high-efficiency power electronics, motors and generators.

GE says the acquisition will allow the company to expand its capabilities for power-conversion technology and that Converteam complements GE Energy’s existing capabilities in energy conversion, industrial automation and process efficiency.

Converteam’s portfolio includes variable frequency drives and other power electronics, advanced motors and generators, as well as industrial automation and controls. The company’s products are used in the renewable energy sector, turning intermittent and variable power from wind, solar and tidal sources into reliable power required by grid operators throughout the world.

Read more mergers and acquisitions news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...