Houston-based Oceaneering is paying about $30 million in cash for Conroe, Texas-based Blue Ocean Technologies, it said on Monday.
The assets being bought include three RLWI systems, two of which are still under construction. Oceaneering said it expects to spend another $10 million completing those two units.
The buyer said Blue Water’s RLWI technology holds the current depth record for deep-water riserless intervention of 8200 feet (2500 metres).
