General Electric - 2006 acquisitions
Over the past few years we've been summarizing the numerous acquisitions (and de-acquisitions) of conglomerate General Electric. While there are other companies that are expanding even faster through acquisition, none of them is as large as General Electric (#7on the Fortune 500 list).
2005 was a slower year for GE (acquisition-wise) than 2003 and 2004, Truth to tell, 2006 was even slower for dealmaking at GE. But that looks about to change. GE reported major revenue boosts over the past year, and in January it has already made some very significant purchases (which we'll cover soon).
As usual, deals extended across the whole range of GE businesses, from finance to energy, and also included even more shuffling off of unwnated assets.
Major 2006 acquisitions
- GE Healthcare acquired UK-based IDX Systems, a healthcare IT company ($1.2 billion)
- GE Water & Process technology acquired Zenon Environmental, a Canada-based maker of membranes for water treatment ($590 million).
- GE Fanuc Embedded Systems (a joint venture with Japan's Fanuc Corporation) acquired UK-based Radstone Technology PLC, a maker of embedded computers for military systems. ($254 million)
- GE Fanuc Embedded Systems acquired the US's SBS Technologies, a maker of boards and buses for embedded computers ($215 million).
- GE Consumer Finance acquired the credit operations of Canada's Hudson Bay department store chain ($320 million)
- GE Money acquired 25% Interest in Thailand's Bank of Ayudhya, the #6 bank in the country ($600 million)
- GE Commercial finance bought Banque Artesia Nederland, a commercial bank with $6 billion in assets (price not disclosed)
- GE Capital Solutions acquired Truststreet Properties, a major US real estate investment trust with an emphasis on franchise restaurant properties ($3 billion)
- GE Equipment Services buys US-based Allrail Services, which provides railcar repair services (price not announced)
GE Energy acquired UK-based Altair Filter Technology Group, a maker of filtration systems for power generators and marine engines (price not announced)
Discards
GE sold its Advanced Materials Group to private equity group Apollo Management for $3.8 billion.
GE sold off its remaining holdings in Genworth Financial, an insurance company it spun off in 2004.
2:47:43 PM 
|
|
