Subsea technology and services company 4Subsea has been acquired by Subsea 7 in a 100% stock buyout.
4Subsea will maintain an independent brand and management team led by CEO Peter Jenkins. It will support Subsea 7 to deliver digital solutions to their customers within life of field and field development contracts and contribute to the ongoing digital transformation of Subsea 7’s business delivery.
Stuart Fitzgerald, executive VP at Subsea 7, commented: “We regard the acquisition of 4Subsea as an important opportunity for Subsea 7 to expand its digital capability and offering. 4Subsea digital insights will create value for Subsea 7 in both our services provided to customers, and to improve efficiency within our own operations and delivery.”
The companies say that an earlier priority will be the monitoring of key operational data on Subsea 7 vessels, contributing to the digitalisation of its marine operations.