The well-support division provides electric submersible pumps, surface wellhead and flow control systems and wireline logging services.
The business, which has more than 20 manufacturing centers world-wide, recorded revenues of $947m and earnings of $166m before interest, taxes, depreciation and amortization last year.
GE Oil & Gas president and CEO Claudi Santiago said that the well-support division is a strategic fit with GE business model of high technology engineering, manufacturing and services.
"The acquisition is another major step forward for GE Oil & Gas in executing our strategy to equip and serve our global oil and gas customers with the mission-critical equipment and solutions required to address their toughest technical challenges and growth objectives," Santiago said.
