Oceaneering set to acquire C & C Technologies

Oceaneering International Inc. (NYSE:OII) has entered into a definitive agreement to acquire C & C Technologies Inc., a privately held global provider of survey services, for $230 million in cash. 

Headquartered in Lafayette, Louisiana, C&C provides ocean-bottom mapping services in deepwater areas, 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 US Gulf Coast and in Mexico, and performs shallow-water conventional geophysical surveys in the US Gulf of Mexico.

The transaction is anticipated to be completed in early April. 

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