M&A Deal Summary

Transocean Acquires Ocean Rig UDW

On September 4, 2018, Transocean acquired financial services company Ocean Rig UDW

Acquisition Highlights
  • This is Transocean’s 1st transaction in the Financial Services sector.
  • This is Transocean’s 1st transaction in Cayman Islands.

M&A Deal Summary

Date 2018-09-04
Target Ocean Rig UDW
Sector Financial Services
Buyer(s) Transocean
Deal Type Add-on Acquisition

Target

Ocean Rig UDW

George Town, Cayman Islands
Ocean Rig UDW, Inc. is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, and specializing in the ultra-deepwater and harsh environment segment of the offshore drilling industry. Ocean Rig UDW was formed in 1996 and is based in

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Buyer(S) 1

Buyer

Transocean

Steinhausen, Switzerland

Category Company
Founded 1926
Sector Oil/Gas Exploration
Employees5,430
Revenue 3.5B USD (2024)
DESCRIPTION

Transocean is a provider of offshore contract drilling services for energy companies, owning and operating among versatile fleets with a particular focus on deepwater and harsh-environment drilling. Transocean was founded in 1926 and is based in Steinhausen, Switzerland.


DEAL STATS #
Overall 5 of 7
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
Country: Cayman Islands M&A 1 of 2
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-15 Songa Offshore SE

Limassol, Cyprus

Songa Offshore SE is an international midwater drilling contractor with a strong presence in the harsh environment North Atlantic basin. Songa Offshore is based in Limassol, Cyprus.

Buy $3.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-29 Ocean Minerals

Grand Cayman, Texas, Cayman Islands

Ocean Minerals is a company engaged in the exploration of seabed resources containing metals critical to the growing renewable energy market. Ocean Minerals is a provider of Cobalt and Rare Earth Metals sourced from the deep ocean floor to the world’s global resource markets. Ocean Minerals is based in Grand Cayman, Cayman Islands.

Buy -