General Electric (NYSE:GE) Acquiring Lineage Power for $520 Million

In a move to bolster their telecommunications and data center segment, General Electric (NYSE:GE) announced they're acquiring Lineage Power for $520 million.

What Lineage does is produce equipment which converts electric power from AC to DC or DC to AC (alternating current to direct current and reverse).

This type of product is used in devices like telecommunications, electrical industrial equipment and data centers.

GE has been moving strongly into the energy sector, and this is another big move into a growing market, which GE says stands at $20 billion and is growing quickly.

Revenue in 2010 for Lineage was $450 million. GE is acquiring Lineage from private equity firm Gores Group LLC.