Oceaneering Wraps Up C & C Technologies Deal

Oceaneering has closed the previously announced definitive agreement to acquire C & C Technologies.

Headquartered in Lafayette, Louisiana, C&C is a provider of ocean-bottom mapping services in deepwater utilizing customized autonomous underwater vehicles and provides marine construction surveys for both surface and subsea assets, as well as satellite-based positioning services for drilling rigs and seismic and construction vessels.

C&C also provides land and near-shore survey services along the U.S. Gulf Coast and in Mexico, and performs shallow water conventional geophysical surveys in the U.S. Gulf of Mexico, Oceaneering wrote.

Earlier in February this year, when the acquisition was first announced, Oceaneering also informed that Thomas Chance, Co-founder and President of C&C, has agreed to remain with the company for at least a year, to facilitate a smooth transition. He will assist in assimilating C&C’s business into Oceaneering and developing a plan for growth that takes advantage of Oceaneering’s existing service line capabilities to provide integrated solutions for customers.

Subject to customary post-closing working capital adjustments, the acquisition price of approximately $230 million was paid in cash.

Share this article

Follow Subsea World News


<< Mar 2018 >>
26 27 28 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

The Offshore Technology Conference (OTC) 2018

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific…

read more >

OTC Asia 2018

The biennial OTC Asia is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge…

read more >

NAPEC 2018

North Africa Petroleum Exhibition and Conference – NAPEC is the largest oil and gas exhibition & conference in Africa focusing on the north Africa Market…

read more >

Pipeline Energy Expo 2018

The conference will offer prime opportunities for pipeline professionals to learn, network, and seek innovative solutions and products…

read more >