GE Energy completes $3.2 billion deal to acquire Converteam

GE says the deal strengthens its “position in $30 billion power conversion and automation sector. The Converteam technological expertise will enhance GE’s ability to bring localised solutions to fast growth regions.” Furthermore, it broadens GE offerings for energy intensive industries like mining. Converteam is a leading provider of power conversion and automation systems and high-efficiency power electronics, motors and generators. Its solutions enable customers in a variety of industries to replace or improve mechanical processes with high-efficiency electric alternatives that deliver better reliability, less maintenance and lower emissions.