Wellstream Brings GE Energy to $4.3 Billion in Deals

General Electric Co.’s agreement today to buy Wellstream Holdings Plc brings its acquisitions of natural gas- and oil-exploration equipment makers to $4.3 billion in the past two months as Chief Executive Officer Jeffrey Immelt taps emerging market growth and energy demand.

GE’s purchase, valued at 800 million pounds ($1.3 billion) and offering sales and earnings multiples in line with industry averages, follows the company’s agreement to buy Dresser Inc. for $3 billion in October.