Proserv
said
the
draft
deal
would
add
300
staff
to
its
expanding
subsea
sector
presence
as
well
as
all
of
Weatherford’s
subsea
control
operations
in
the
UK,
Norway,
North
America,
Middle
East
and
Far
East.
Weatherford
International’s
subsea
controls
arm
specializes
in
subsea
and
topside
communication
and
control
systems
as
well
as
subsea
termination
equipment
for
offshore
production
optimization,
control
and
monitoring.
Proserv
will
acquire
the
business
assets
of
Weatherford
while
staff
and
management
will
remain
in
place. In
return,
Weatherford
will
acquire
common
and
preferred
equity
in
Proserv
and
will
have
representatives
on
Proserv’s
board.
Proserv
chief
executive
David
Lamont
said
the
tie-up
was…
