Acteon has acquired UTEC Survey to enhance its subsea services capabilities, leveraging UTEC's technology and market presence.

Information on the Target

Acteon has acquired UTEC Survey, an independent survey services company recognized for its global presence and expertise. UTEC specializes in providing high-quality, cost-effective technology solutions designed to gather, process, and manage data essential for informed decision-making throughout the lifecycle of subsea fields. The company reported revenues exceeding $84 million in 2013, underscoring its strong market position.

This acquisition enhances Acteon's ability to cater to tier one contractors and oil companies that require extensive support for data gathering, analysis, and interpretation, vital for competitive operation in the integrity and maintenance sectors of subsea services.

Industry Overview in the Target’s Specific Country

The subsea services industry is a critical component of the broader oil and gas sector, particularly in regions rich in offshore resources, such as the North Sea and Gulf of Mexico. Given the complexities and sig