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ACQUISITION/MERGER NEWS

Ulmatec to acquire Cetix Group

Ulmatec has reached an agreement of the acquisition of Stavanger-based Cetix Group AS, a technology group with long international experience in the oil and gas industry. It is a holding company with subsidiaries in Stavanger, UK and Lithuania.

ACQUISITION/MERGER NEWS

Kongsberg Maritime concludes acquisition of Evotec

Kongsberg Maritime AS, a wholly-owned subsidiary of Kongsberg Gruppen ASA, completed the acquisition of Evotec AS today.

ACQUISITION/MERGER NEWS

Bluefin Robotics acquires Hawkes Remotes and expands into ROV market

Bluefin Robotics, a leader in the design and manufacturing of Autonomous Underwater Vehicles (AUVs) announced today that the company has acquired the assets of Hawkes Remotes, Inc (HRI), a spinoff from Hawkes Ocean Technologies (HOT), that develops advanced Remotely Operated Vehicles (ROVs). Bluefin plans to leverage their AUV autonomy and subsea vehicle experience to add hybrid capabilities to the Hawkes ROVs and offer them as an extension of their current product line to the oil and gas industry.

ACQUISITION/MERGER NEWS

ITT completes acquisition of YSI Incorporated to enhance its water instrumentati

ITT Corporation announced today that it has completed its acquisition of YSI Incorporated, forming a water-focused analytics business with annual revenue of approximately $300 million. YSI is a leading developer and manufacturer of sensors, instruments, software, and data collection platforms for environmental water monitoring, with facilities in the U.S., Europe and Asia.

ACQUISITION/MERGER NEWS

ITT to acquire YSI; Deal strengthens company's water instrumentation business

ITT Corporation and privately held YSI Incorporated today announced that they have entered into a definitive agreement for ITT to acquire, via merger, YSI, a leading developer and manufacturer of sensors, instruments, software, and data collection platforms for environmental water monitoring. The financial terms of the proposal were not disclosed.

ACQUISITION/MERGER NEWS

Forum Energy Technologies acquires Cannon Services and enters downhole product m

Forum Energy Technologies (FET) announced today the acquisition of Cannon Services, Ltd. (Cannon), a leading supplier of downhole completion control lines and cable protection systems. Cannon, based in Stafford, Texas, was founded twenty-five years ago by Jim Cannon and is a global provider of standard and specialized downhole clamps and protectors used worldwide by oil and gas operators, engineering service companies and submersible pump companies. The purchase marks FET's entrance into the downhole tool market. Terms of the transaction were not disclosed.

ACQUISITION/MERGER NEWS

Kongsberg Maritime buys Evotec AS

Kongsberg Maritime AS, a fully owned subsidiary of Kongsberg Gruppen ASA (Kongsberg) has reached agreement in principle with major shareholders in Evotec AS regarding acquisition of the company. Evotec AS develops and delivers marine technology handling systems to market segments like seismic, offshore supply and subsea. Within these niches, Evotec AS has developed systems which have led them to be one of the leading suppliers in the market. Evotec AS is located in Herøy and Ulstein municipal with a total of approximately 50 employees.

ACQUISITION/MERGER NEWS

Seatec Underwater Systems acquired by Seamergo Group

As from 16 May 2011 Seatec has been taken over by the investment company Value Enhancement Partners from Amsterdam. This company will obtain a majority share and will be supported by the previous owners.

ACQUISITION/MERGER NEWS

Acteon acquires survey company NCS Survey Ltd.

Subsea services group Acteon has acquired Aberdeen-based NCS Survey Limited. The acquisition adds to Acteon's capability in the rig-positioning market and provides an additional suite of survey services to clients that operate rigs and vessels.

ACQUISITION/MERGER NEWS

Nortek B.V. acquires SeaDarq B.V.

Nortek B.V. in the Netherlands has acquired SeaDarq b.v., a Dutch company that specializes in software enhanced radar systems with special focus on oil spill detection, small object detection, and upper layer current measurements.


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