General Electric

General Electric Company (GE) is an American multinational conglomerate incorporated in New York and headquartered in Boston. As of 2018, the company operates through the following segments: aviation, healthcare, power, renewable energy, digital, additive manufacturing, venture capital and finance, lighting, transportation, and oil and gas.

GE was one of the eight major computer companies of the 1960s along with IBM, Burroughs, NCR, Control Data Corporation, Honeywell, RCA and UNIVAC. GE had a line of general purpose and special purpose computers, including the GE 200, GE 400, and GE 600 series general purpose computers, the GE 4010, GE 4020, and GE 4060 real-time process control computers, and the DATANET-30 and Datanet 355 message switching computers (DATANET-30 and 355 were also used as front end processors for GE mainframe computers). A Datanet 500 computer was designed, but never sold.

On June 26, 2018, GE announced the results of its strategic review. GE will focus on Aviation, Power and Renewable Energy, creating a simpler, stronger, high-tech Industrial company. In addition to the pending combination of its Transportation business with Wabtec, GE plans to separate GE Healthcare into a standalone company, pursue an orderly separation from BHGE over the next two to three years, make its corporate structure leaner and substantially reduce debt.

GE is a multinational conglomerate headquartered in Boston, Massachusetts. However its main offices are located at 30 Rockefeller Plaza at Rockefeller Center in New York City, known now as the Comcast Building. It was formerly known as the GE Building for the prominent GE logo on the roof; NBC's headquarters and main studios are also located in the building. Through its RCA subsidiary, it has been associated with the center since its construction in the 1930s. GE moved its corporate headquarters from the GE Building on Lexington Avenue to Fairfield in 1974.

In May 2017, GE had signed $15 billion of business deals with Saudi Arabia. Saudi Arabia is one of GE's largest customers. In September 2017, GE announced the sale of its Industrial Solutions Business to ABB. The deal closed on June 30, 2018.

 

In 2017, GE ranked among the Global Fortune 500 as the 23rd firm world wide.

GE has made over 30 acquisitions over the years. Some of their acquisitions are-

In May 2007, GE acquired Smiths Aerospace for $4.8 billion.  Also in 2007, GE Oil & Gas acquired Vetco Gray for $1.9 billion, followed by the acquisition of Hydril Pressure & Control in 2008 for $1.1 billion.

In October 2010, GE acquired gas engines manufacture Dresser Inc. in a $3 billion deal and also bought a $1.6 billion portfolio of retail credit cards from Citigroup Inc. On October 14, 2010, GE announced the acquisition of data migration & SCADA simulation specialists Opal Software. In December 2010, for the second time that year (after the Dresser acquisition), GE bought the oil sector company British Wellstream Holding Plc., an oil pipe maker, for 800 million pounds ($1.3 billion).

In April 2011, GE announced purchased John Wood Plc's Well Support Division for $2.8 billion.

 

 

  • Year founded: April 1892
  • Funding Info: General Electric has acquired over 30 organizations as well as made over 40 investments to date!
  • Yearly Revenue: 122.1 billion USD (2017)
  • Employee Size: 10,001+
  • Business Valuation: Mkt Cap: $86.85B as of Feb 14, 2019/ Total Assets: US$ 377.95 billion (2017)
  • City/Town: Boston
  • State: Massachusetts
  • Country: United States
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