Oceaneering goes shopping for Viper Subsea stake

  • Business & Finance

Oceaneering International Services Ltd, a provider of engineered services and products primarily to the offshore oil and gas industry, has acquired a minority equity interest in Viper Subsea Technology, a company that provides control system distribution solutions for subsea oil and gas industry.

According to Viper Subsea’s announcement, Oceaneering International Services Ltd, a UK based subsidiary of Oceaneering International, completed the deal on August 7, 2015.

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.”

He added: “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.”

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