Aker Solutions and FSubsea have created FASTSubsea, a multiphase subsea pumping specialist, combining Aker’s multiphase hydraulic technology with FSubsea’s Hydromag permanent magnetic pump. Aker and FSubsea will each hold 50% of outstanding shares in the new company.
Aqualis Offshore is to acquire Braemar Shipping Services’ offshore, adjusting and marine business lines. The company’s head office will be located in London. David Wells continues as group CEO.
Bluware has acquired Oslo-based Kalkulo AS, a provider of in machine learning, data analysis and modeling services to the oil and gas sector. Renevo Capital advised Kalkulo on the deal.
Oil country ‘Blockchain-as-a-Service’ boutique Data Gumbo has received $6 million in series A funding round ‘co-led’ by Equinor Technology Ventures and Saudi Aramco Energy Ventures.
Dietsmann Smart Robotics Lab, a 100%-owned subsidiary of the Dutch Dietsmann Group, has made a ‘substantial investment’ in Austrian Taurob GmbH, a developer of waterproof, ruggedized and ATEX-certified robots. The companies envisage the replacement of human inspection and maintenance missions in remote and hazardous locations and the general adoption of robotics in the oil and gas industry. Concomitantly, Dietsmann is to launch two start-up companies: Dietsmann Smart Robotics Lab and Dietsmann Smart Data Lab, both based in Boussens, south-west France, the historical heartland of French oil and gas.
ENGlobal Corp. has been granted a 180-day extension by the NASDAQ to regain compliance with the $1 minimum bid price rule.
FireEye has acquired Verodin, a specialist in the validation of cyber security controls in an approx. $250 million transaction.
Greene, Tweed has acquired Lancer Systems’ fiber optics product portfolio. Lancer’s fiber optic connectors are deployed by oil and gas service companies for use in wellhead outlets.
Australian Origin Energy has made a ‘strategic investment’ in Intertrust, a specialist in securing and managing the exchange of energy data.
Novi Labs has announced a financing round led by Cottonwood Venture Partners and seed investor, Bill Wood. Austin-based Novi provides machine learning software to help oil and gas companies design wells and optimize development programs.
Houston-based AI specialist OAG Analytics has closed its second round of growth funding from Rice Investment Group.
Wellbore Integrity Solutions, an affiliate of private equity firm Rhône Capital is to acquire Schlumberger’s fishing and tubulars businesses and assets in an approx. $400 million deal which includes the DRILCO, Thomas Tools, and Fishing & Remedial services units.
Sphera Solutions has acquired SiteHawk, a provider of software and data management solutions for chemicals in, inter alia, oil and gas.
SymphonyAI has acquired Azima Global, a provider of machine condition monitoring and reliability solutions for the process and manufacturing industries. The company is to rebrand as Symphony AzimaAI. Oppenheimer advised Azima on the transaction.
Tachyus has raises $15 million in a Series B round led by Cottonwood Venture Partners. Tachyus provides data-driven production optimization via Data Physics, its cloud-hosted software that blends AI and physics. Tudor, Pickering, Holt advised Tachyus.
Finland’s Tieto Corp. is to merge with Norway’s Evry ASA. Evry shareholders will own some 37.5% of the combined company and will receive some €200 million in cash. Tieto expects to issue 44.3 million new shares in the deal.
Weatherford has reached an agreement with its senior noteholders on a financial restructuring via a ‘pre-packaged’ Chapter 11 process that will reduce its long-term debt by over $5.8 billion. The package ‘contemplates’ $1.75 billion in new financing and up to $1.25 billion in additional post-emergence finance. Weatherford has also sold its surface data logging business to Excellence Logging for a $50 million total consideration.
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