Global Marine Systems is to buy Fugro’s trenching and cable lay services business for approximately $73m.
Under the terms of the agreement, Global Marine will acquire 23 Fugro employees located in Aberdeen, the multi-purpose MV Symphony vessel, two Q1400 trenchers and two remotely operated vehicles.
Fugro will also become the preferred provider of marine site characterisation and asset integrity services to Global Marine.
Global Marine Group chief executive Ian Douglas said: “This acquisition is another deliberate step in our strategic plan, adding extensive capabilities of the Fugro trenching and cable lay team to the Global Marine Group and further equipping us with proven assets to support our growth plans.”
The deal is expected to close in the fourth quarter 2017.
Image: a Q1400 trencher (Fugro)
Fugro offloads wire squad
Global Marine to acquire 23 staff, one vessel, two trenchers and two ROVs
By EBS