General Electric Company (NYSE:GE) Completes Acquisition Of Xcellerex Inc.
General Electric Company (NYSE:GE) was trading up 1.22% as the diversified technology and financial service provider announced the completion of acquisition of Xcellerex, Inc., a supplier of innovative manufacturing technologies for the fast-growing biopharmaceutical industry.
The Company acquisition will help it in increasing its offerings of technology and services related to the manufacture of biopharmaceuticals such as recombinant proteins, antibodies and vaccines. This the Company describes to be a key area of growth where the acquired firm; which has been a provider of biomanufacturing solutions that transform the speed and economics of producing therapeutic proteins, including biosimilars and vaccines; will help General Electric company in expanding its service and technology offerings.
Also, the conglomerate’s Capital Fleet Services announced the launch of IntelliGauge, a mobile fuel and CO2 calculator application that allows users to compare components of their current vehicles against future vehicles.
Shares of General Electric Company (NYSE:GE) was up $0.25 in the trading session with only 16.88 million shares exchanging hands as against the average trading volume of 41.42 million shares. Shares of the conglomerate have risen 6.64% year to date with the trading range being $14.02- $21.
General Electric Company (GE) is a diversified technology and financial services corporation. The products and services of the Company range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products.