Beatrice Lang
General Electric Company (GE), founded in 1892, is one of the oldest and largest industrial conglomerates in the United States. Over the years, GE has diversified into several sectors, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance. The company has a long history of acquisitions and expansions, with a notable focus on diversification and acquisition strategies. As of April 2025, GE has completed 41 acquisitions with an average acquisition amount of $1.96 billion. Its most active year was 2016, with 6 acquisitions. GE's acquisitions span various sectors, with a presence in 13 countries, most notably the United States and the United Kingdom.
| Characteristics | Values |
|---|---|
| Total Number of Acquisitions | 41 |
| Average Acquisition Amount | $1.96 billion |
| Most Active Year | 2016 (6 acquisitions) |
| Number of Countries Acquired in | 13 |
| Top Countries Acquired in | United Kingdom and United States |
| Top Sectors Acquired in | Manufacturing Tech (3) and 3D Printing (2) |
| First Acquisition | RCA Corporation (1919) |
| Recent Acquisition | Opus One Solutions (December 2021) |
| Recent News | Official takeover of General Electric's activities by EDF (May 31, 2024) |
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What You'll Learn
GE's acquisition of Alstom's global power division for $17 billion
General Electric (GE), an American multinational conglomerate, has a long history of acquisitions and innovations, dating back to its incorporation in 1892. In 2014, GE announced its intention to purchase Alstom's power and grid divisions for $17 billion. This acquisition was finalised on November 2, 2015, for a valuation of €12.4 billion ($10.6 billion), with €9.7 billion transferred to Alstom and the remainder reinvested in GE/Alstom joint ventures.
Alstom, a French engineering group, was a significant player in the power industry, with a global market share of around 10% in its grid division. The acquisition of Alstom's energy division expanded GE's existing power generation business, allowing it to reorganise and integrate Alstom's technologies. This deal faced scrutiny from regulators, particularly in France, due to the strategic importance of the industry. To secure approval, GE agreed to form joint ventures with French companies and sell Alstom's heavy gas turbine and rail signalling businesses.
The valuation of the deal and the recognition of goodwill became a notable aspect of this acquisition. While the initial net purchase price was $10.1 billion, the recognised goodwill in GE's business combination accounting exercise rose to $17.3 billion. This discrepancy puzzled observers, leading to questions about the transaction's synergies and GE's rationale.
GE's acquisition of Alstom's global power division was part of its broader strategy to diversify through acquisitions. Over the years, GE has completed 41 acquisitions, with its most active year being 2016, when it acquired six companies. GE has a history of acquiring businesses in various sectors, including RCA, NBCUniversal, and multiple companies in the healthcare, lighting, appliances, and financial services industries.
The Alstom acquisition, however, faced challenges. In October 2018, GE wrote off $23 billion from the value of its power industry division, largely attributed to the Alstom purchase. This decision impacted GE's stock price, and the company faced further scrutiny from the SEC and DOJ regarding its accounting practices. Despite these challenges, the acquisition demonstrated GE's continued focus on expansion and its commitment to remaining a global powerhouse.
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GE's purchase of RCA Corporation, including NBC
General Electric (GE) has completed 41 acquisitions, with its most active year being 2016, when it made 6 acquisitions.
One of GE's most notable acquisitions was that of the RCA Corporation (Radio Corporation of America) in 1986. GE had helped found RCA in 1919, and it used the company as its retail arm for radio sales. In 1926, RCA co-founded the National Broadcasting Company (NBC), which built two radio broadcasting networks. In 1939, RCA began regular experimental television broadcasting from NBC studios to the New York metropolitan area. GE's acquisition of RCA in 1986 thus included the television network NBC.
GE's acquisition of RCA for $6.46 billion was the largest non-oil acquisition in US history at the time. RCA was involved in radar and radio development and ranked 43rd among US corporations in the value of wartime military production contracts. GE sold RCA's consumer electronics division to Thomson SA, a French firm, in 1987, and purchased Thomson's medical technology division.
Over the following years, GE sold or liquidated most of RCA's divisions and assets. RCA trademarks were licensed to Thomson and Bertelsmann Music Group, and Thomson eventually purchased the rights to the RCA trademarks in 2003. In 2006, Thomson sold its consumer electronics accessory business, including the rights to use the RCA name for consumer electronic accessories, to Audiovox. In 2007, Thomson sold its consumer electronics audio-video business outside Europe, including the worldwide rights to the RCA brand for consumer electronics audio-video products.
In 2009, GE acquired a majority stake in Vivendi Universal to create its flagship NBCUniversal division. In 2011, Comcast acquired NBCUniversal from GE.
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GE's acquisition of NBCUniversal by Comcast in 2011
General Electric (GE) has completed 41 acquisitions as of April 2025, with an average acquisition amount of $1.96 billion. Its most active year was 2016, with 6 acquisitions.
One of GE's notable acquisitions is that of NBCUniversal by Comcast in 2011. The merger of Comcast's cable networks with GE's NBC Universal entertainment unit was announced in December 2009 and completed on January 29, 2011. The new joint venture, NBCUniversal, LLC, was 51% owned by Comcast and 49% by GE, with Comcast assuming management control. The deal, valued at $30 billion, included Comcast paying GE $6.5 billion in cash and contributing some of its programming assets. Comcast gained ownership of NBC, Universal Pictures, cable channels such as Syfy, CNBC, and MSNBC, and Universal Parks & Resorts, among other assets.
The acquisition was subject to scrutiny from activists and government officials due to concerns over the potential effects of vertical integration, as Comcast was already a major player in cable television and internet services. Despite this, the merger was approved by the Federal Communications Commission (FCC) and the Department of Justice (DOJ) on January 18, 2011, with conditions attached. Comcast was required to give up NBC's control over Hulu and make NBC Universal programming available to competing cable operators.
Following the acquisition, Comcast began to integrate its sports properties with the NBC Sports division, renaming the Comcast Sports Group to NBC Sports Group. Comcast also aligned its cable channels, such as E! and Golf Channel, with NBC Universal's television properties. On March 19, 2013, Comcast acquired the remaining 49% stake in NBCUniversal from GE, becoming the sole owner of the company.
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GE's acquisition of Opus One Solutions in 2021
General Electric (GE), an American multinational conglomerate, has a long history of acquisitions and innovation in various industries. As of April 2025, GE has completed 41 acquisitions with an average acquisition amount of $1.96 billion. Its most active year was in 2016, with six acquisitions. The company's most recent acquisition was in December 2021, when it acquired Opus One Solutions Energy Corporation, commonly known as Opus One.
Opus One, an Ontario, Canada-based company, is a software and solutions innovator with a vision of a digitalized, decentralized, and decarbonized planet. Its advanced model-based software platform, GridOS®, enables the digital utility by optimizing complex power flows and delivering operational energy management. Through their intelligent energy network analysis platform, Opus One helps electric utilities optimize energy planning, operations, and market management.
The acquisition of Opus One by GE Digital reinforces GE's commitment to helping customers transition to a sustainable grid. By combining Opus One's renewable energy planning capabilities with GE Digital's network management and optimization portfolio, utilities can make informed decisions about integrating renewables and Distributed Energy Resources (DERs) across the electric grid. This integration will result in a modern grid that is reliable, sustainable, and affordable for all.
The acquisition brings together the brightest minds in grid innovation and energy-focused expertise, allowing GE and Opus One to collaborate to build a new energy ecosystem with their customers. This strategic move by GE aligns with the increasing global focus on renewable energy and the need to address the challenges faced by electric utilities with the rapid growth of renewables and DERs.
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GE's acquisition of Vivendi Universal in 2004
General Electric (GE) has a long history of acquisitions, with a recorded 41 acquisitions as of April 2025, with an average acquisition amount of $1.96 billion. One of GE's notable acquisitions was that of Vivendi Universal in 2004.
GE's acquisition of Vivendi Universal was a significant move in the media and entertainment industry. Vivendi Universal, a French conglomerate, had been struggling under billions in debt incurred by its former CEO, Jean-Marie Messier, who sought to create the world's largest media company through expensive acquisitions. To reduce this debt, Vivendi Universal sold off many of its entertainment divisions, including Universal Pictures, USA Network, Trio, and Sci-Fi Channel cable channels, as well as several theme parks.
In 2004, GE purchased an 80% stake in Vivendi Universal, with Vivendi retaining a 20% stake in the new company, which was named NBCUniversal. This acquisition was valued at approximately $43 billion, with Vivendi receiving about $3.8 billion in cash and GE assuming $1.7 billion in Vivendi debt. The deal combined Vivendi's American entertainment assets with GE's broadcasting subsidiary, NBC, creating a powerful force in the media industry.
The merger of Vivendi's entertainment assets with NBC's television assets was expected to create synergies and cross-business cooperation. NBC planned to leverage its new assets to broadcast the summer Olympics from Athens that year, showcasing its ability to utilize the combined strengths of the two companies. The acquisition of Vivendi Universal's assets contributed to GE's expansion in the media and entertainment sector, further solidifying its presence in an industry already established through its ownership of NBC.
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Frequently asked questions
As of April 2025, General Electric (GE) has completed 41 acquisitions with an average acquisition amount of $1.96 billion.
2016, with 6 acquisitions.
Opus One Solutions, a provider of software solutions for utility management, acquired in December 2021.
Renewable energy, aviation, and healthcare.
GE's notable acquisitions include RCA Corporation, NBCUniversal, Alstom's global power division, and Opus One Solutions.
