General Electric Merges Transportation Business with Wabtec

​Last week, General Electric announced it had sold 49.9% of its transportation business to Wabtec Corporation for approximately $11.1 billion. The move came as CEO John Flannery announced a major overhaul of the GE conglomerate late last year. Other significant deals included Roper Technologies’ acquisition of PowerPlan, Adobe’s purchase of Magento, and Kroger’s acquisition of Home Chef.

• General Electric (NYSE: GE) confirmed last Wednesday that it had successfully sold a substantial portion of its transportation business. GE sold 49.9% of the unit to Wabtec Corporation (NYSE: WAB) - which manufactures equipment for locomotives, freight cars, and passenger transit vehicles - for $11.1 billion. The resulting company will generate approximately $8 billion in sales.

• Private equity firm Thoma Bravo agreed to sell a portfolio company, PowerPlan, to Roper Technologies (NYSE: ROP) for $1.1 billion. The deal, which was announced last Monday, marks Roper’s second billion-dollar deal with Thoma Bravo. PowerPlan offers financial software that brings tax, regulatory, and budgeting solutions to businesses.

• Last Tuesday, news broke that Adobe Systems (NASDAQ: ABDE) reached a deal to acquire Magento from Permira Holdings for approximately $1.7 billion. Magento creates software to run e-commerce websites and was previously owned by Ebay.
  

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• Kroger (NYSE: KR) is buying meal kit provider Home Chef for $200 million, though the total consideration could amount to $700 million over the next five years if Home Chef hits certain milestones. Home Chef posted $250 million in revenue last year.