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M&A Deal Summary

Oceaneering International Acquires Ifokus Engineering AS

On July 10, 2007, Oceaneering International acquired machinery company Ifokus Engineering AS

Acquisition Highlights
  • This is Oceaneering International’s 1st transaction in the Machinery sector.
  • This is Oceaneering International’s 2nd transaction in Norway.

M&A Deal Summary
Date 2007-07-10
Target Ifokus Engineering AS
Sector Machinery
Buyer(s) Oceaneering International
Deal Type Add-on Acquisition

Target

Ifokus Engineering AS

Stavanger, Norway
Ifokus Engineering AS is a Norwegian designer and manufacturer of specialty subsea products, including ROV tooling. In addition to ROV tooling and interfaces, Ifokus product lines include hardware to perform fluid transfer and control, valve intervention, and hydrate remediation. Specific Ifokus products of note include leading-edge electric valve actuators and multifunction hot stabs.

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Buyer(S) 1

Buyer

Oceaneering International

Houston, Texas, United States
Category Company
Founded 1964
Sector Energy Services and Equipment
Employees10,100
Revenue 2.4B USD (2023)
DESCRIPTION
Oceaneering International's corporate headquarters in Houston, Texas.
Oceaneering International's corporate headquarters in Houston, Texas.

Oceaneering International is a provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries. Oceaneering International was formed in 1964 and is based in Houston, Texas.

DEAL STATS #
Overall 8 of 17
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 4 of 11
Country (Norway) 2 of 5
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-18 Medusa Spar

Canyon,, Mississippi, United States

Medusa Spar LLC is a limited liability company .The Company owns a 75% undivided ownership position in the spar production platform moored in over 2,200 feet of water on the Medusa field in the Gulf of Mexico, Mississippi Canyon Block 582.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-17 GTO Subsea AS

Kristiansund, Norway

GTO is a rental provider of specialized subsea dredging and excavation equipment, including remotely operated vehicle (ROV) deployed units, to the offshore oil and gas industry.

Buy $45M
Mergr

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