Baker Hughes, one of the world`s largest oil field services companies, and GE (General Electric), one of the biggest conglomerates in the world, announced a merger agreement in 2016. This monumental decision saw GE acquire a majority stake in Baker Hughes, leading to the creation of a new company called Baker Hughes, a GE Company (BHGE).
The merger agreement brought together two of the most recognized and respected names in the energy industry. The aim of the merger was to create a new kind of company that could offer equipment, services, and digital solutions for the entire oil and gas industry. BHGE is now a world leader in this field, offering a range of cutting-edge technologies that help its customers save money and increase efficiency.
The merger agreement allowed GE to bring its digital expertise to the table, which was a crucial aspect considering the modern-day oil and gas industry is more digitized than ever before. BHGE has taken advantage of the digital technologies that GE has brought to the company and has transformed how it operates. GE`s digital expertise has enabled BHGE to streamline its operations and offer customers a more personalized service.
The merger agreement between Baker Hughes and GE has not only changed the energy industry, but it has also led to a significant change in how the two companies operate. Once the merger was complete, BHGE became a separate legal entity, with its Board of Directors, management team, and strategy. This change has allowed BHGE to focus on its strengths, such as its ability to offer a wide range of innovative services to the industry.
In today`s world, where companies need to stay ahead of the curve and remain competitive, BHGE`s merger agreement with GE has been a significant turning point. It has enabled the company to offer a more diverse range of products and services, increasing its market share in the energy industry. BHGE has become a leading provider of equipment, services, and digital solutions, and this merger agreement has played a critical role in its success.
In conclusion, the Baker Hughes and GE merger agreement has brought about significant changes to the energy industry, and more importantly, to the way the two companies operate. BHGE is now a world leader, offering a range of innovative solutions that help its customers save money and increase efficiency. The merger agreement has been a significant turning point, and there is no looking back for BHGE as it continues to expand its reach and transform the oil and gas industry.