General Electric Corp. has been on an industrial power generation roll lately. They've spent over $11 billion (with a "b") the last few months, and they're set to add to that with the acquisition of Converteam, for $3.2 billion.
The GE energy unit has taken over scads of companies lately, including Dresser Inc., Wellstream Holdings, Lineage Power, and part of the John Woods Group. GE's energy-sector portfolio is now estimated to be worth north of $30 billion.
Converteam is a power generation company based out of France. It supplies power electronics, rotating machines, generators, and energy controls to for large industrial power generation outfits like gas pipelines. It looks like GE is betting big on power, which is, of course, a strong bet! So far, there's been only one direction in human progress: Upward. And as the population and industry expand, the demand for power will only increase.
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