Sept. 20, 2011: GE Energy Completes Deal to Acquire Converteam
ATLANTA — GE has announced the successful completion of GE Energy’s $3.2 billion acquisition of Converteam, a leading provider of power conversion and automation systems and high-efficiency power electronics, motors, and generators.
Converteam’s portfolio includes variable frequency drives and other power electronics, advanced motors and generators, as well as industrial automation and controls. Converteam’s products are widely used in the renewable energy sector, turning the intermittent and variable power from solar, wind, and other alternative energy sources into the power required by grid operators.