GE to Buy Equipment Maker Osmonics

General Electric Co. agreed to buy Osmonics Inc. for $270 million to build its water-treatment businesses.

Osmonics, based in Minnetonka, Minn., has about 1,200 employees and had sales of $207 million last year.

Osmonics makes water purification, filtration and separation equipment. It will become part of GE Water, run by General Electric’s Power Systems business. The unit is moving into new markets as power-equipment sales slow.

GE shares rose 50 cents to $26.50 on the NYSE.