London, Sept. 4 (Reuters): General Electric (GE) has agreed to buy British oilfield services firm Sondex for £288.7 million ($583.1 million) in an all-cash deal.

GE, whose interests cover technology, media and financial services, will pay 460 pence a share for Sondex. The British firm designs, makes and markets electro-mechanical equipment for oilfield service companies.

The offer price is 35.5 percent above Sondex’s closing share price on August 30, the day before it announced takeover talks.