Dräger has acquired GasSecure, a Norwegian company specializing in wireless gas detection technology, positioning it for expanded market reach and technological advancement.
Target Information
GasSecure, founded in 2008 by Knut Sandven and Håkon Sagberg, is based on technology developed at the SINTEF research foundation. The company specializes in wireless gas detectors, providing superior safety levels for customers at significantly lower costs compared to competing technologies. This offering has gained increased attention as the low oil prices compel the energy sector to focus on cost-cutting initiatives.
The products and technology of GasSecure have successfully been sold to major customers, passing rigorous testing in challenging environments both onshore and offshore, including locales such as Alaska, the North Sea, and Australia.
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Industry Overview in Norway
The Norwegian oil and gas industry stands as a crucial component of the national economy, significantly contributing to GDP and employment. Nor
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Dräger
invested in
GasSecure
in 2014
in a Other Private Equity deal
Disclosed details
Revenue: $2,430M