Oceaneering International, Inc. (NYSE:OII) announced it has acquired Spectrum Sales & Services LLC, a nondestructive examination (NDE) company that has developed subsea pipeline inspection technology based on the use of Electro Magnetic Acoustic Transducer (EMAT) technology. Spectrum currently serves the oil and gas, petrochemical, and power industries primarily in the Gulf Coast Region of the United States. Spectrum’s revenue for 2013 was approximately $4 million.
This acquisition adds the EMAT service line to Oceaneering’s Asset Integrity business segment, which Oceaneering intends to grow by leveraging its global footprint.
About Oceaneering
Oceaneering is a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its advanced applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries.
About Spectrum
Spectrum Sales and Services, LLC. Represents an applied technology and service company. We are committed to both applications methodology and in customer service. We are a service driven company that specializes in new and innovated (NDE) technologies to use at our clients plants, pipeline , and terminals facilities. The company is based out of the Houston, Texas area. Middle East operations are based in Dammam, Saudi Arabia.