Friday, May 23, 2014:A Bangalore-based company, Pace Power Systems, has reportedly acquired GE (General Electric) Power Electronics India’s entire business. GE has been involved in providing energy management solutions to the telecom operators and telecom tower companies.
The deal gives Pace Power the right to use the Lineage Power brand owned by GE. The company can now use the brand in some of its operations. The companies have reportedly not disclosed the value of the deal and declined any requests on that front.
Further, reports say that Pace Power is already a Rs 3,000 million company and employs 2,400 people. Through this acquisition, the company has consolidated its position in the Indian market. The market for energy management services for telecom towers is pretty competitive. Competitors in the market include Pace, Emerson, GE, Eltek and Delta, all of which are pretty well positioned and established in the market.
