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Thursday, January 13, 2011

GE to acquire maker of power-conversion equipment, (NYSE: GE), (WSML)

General Electric Co (GE.N) reached a $520 million deal to acquire privately held Lineage Power Holdings Inc, a maker of electricity conversion equipment used in computer data centers. GE, the world's biggest maker of electric turbines, said on Thursday the acquisition of Lineage, which last year generated $450 million in revenue, is part of its drive to expand its energy business as it refocuses on its industrial core. The largest U.S. conglomerate in the past year also agreed to buy Dresser Inc, a maker of engines used in oil and gas production and Wellstream Holdings (WSML.L), a British maker of oil pipes.