Subsea 7 and Acergy to merge

The offshore companies Subsea 7 and Acergy merge. The new entity, to be named Subsea 7, has a market value of USD 5.4 billion, a global organisation of 12,000 people and a backlog of USD 5.3 billion. The fusion will generate annual synergies of at least USD 100 million. The board will be chaired by Subsea 7’s current Chairman, Kristian Siem.