Posted on 13.08.2015 - 11:57 UTC in ACQUISITION/MERGER NEWS by DT_Amanda
Oceaneering’s UK subsidiary has, on August 7, completed the acquisition of a minority equity interest in Viper Subsea Technology.
Viper Subsea was established in 2007 by Neil Douglas and Max Nodder. The company designs and supplies hydraulic, chemical, and electrical subsea distribution systems and equipment, as well as offering a range of engineering consultancy services.
A portfolio of patents reflects the company’s investment in Research and Development. Of particular note is the V-LIFE system, a solution to one of subsea engineering’s most common problems, the degradation of insulation resistance in subsea cables, umbilicals and connectors.
Neil Douglas, Managing Director of Viper Subsea Technology, said: “This is an ideal opportunity to accelerate the growth and the global reach of Viper Subsea’s innovative products and services. Oceaneering is a widely respected company with a great reputation whose products and offerings complement our own and this is clearly an important strategic step for us. Our technology and capability will also provide significant pull-through for Oceaneering.”
“There will be no change in the day to day management team or management structure of Viper Subsea. We have a successful and highly experienced team in place who will continue to drive the development of Viper Subsea forward.”