GE to Buy Water Treatment Co for \$1.1 Bln &lt;p&gt;\&lt;/p&gt;&lt;p&gt; BOSTON (Reuters) - General Electric Co. &lt;GE.N&gt; will buy\Ionics Inc. &lt;ION.N&gt; for \$1.1 billion to build out its water\treatment and services business, one of its major growth\initiatives, the companies said on Wednesday.&lt;/p&gt;