Lafayette Oil Service Company To Be Acquired For $230M
LAFAYETTE, LA (AP) — Oceaneering International Inc. of Houston is buying a privately owned ocean mapping and surveying company based in Louisiana for about $230 million cash.
Oceaneering and C&C Technologies Inc. announced the deal on their websites Monday, saying it should close in early April.
C&C says it will keep its name and its headquarters will remain in Lafayette.
Oceaneering says C&C co-founder and president Thomas Chance will stay on for at least a year to help with the transition.
The Louisiana company uses customized autonomous underwater vehicles to map the bottom in deep water. It also does marine construction surveys for surface and subsea projects and provides satellite-based positioning services for drilling rigs, seismic vessels and construction vessels.
It was founded in 1992 and has 550 employees in 10 offices worldwide.