GE has entered into an agreement to acquire Dresser, a global energy infrastructure company, for $3bn to expand its energy technology portfolio.
Dresser’s product portfolio includes technologies for gas engines, control and relief valves, measurement, and regulation and control solutions for gas and fuel distribution.
The addition of Dresser’s portfolio is expected to expand GE’s core energy offerings and extend its reach into adjacent offerings for its energy and industrial customers.
GE Energy president and CEO of John Krenicki said that Dresser is a great fit for the GE business model.
"Dresser’s technology complements our existing gas engine portfolio and adds offerings complementary to those of GE in the $45bn flow technology industry, including product offerings in the highly engineered valve segment," Krenicki said.