Oceaneering (OII) Acquires Global Design Innovation

Oceaneering International, Inc. (NYSE: OII) announced today that it has acquired Global Design Innovation Ltd. (GDi), a UK-based provider of digital and software services. This acquisition is a key step in Oceaneering’s strategy to advance its digital capabilities and broaden the solutions available to its global clients.

As the only provider certified by the United Kingdom Accreditation Service (UKAS) to perform remote visual inspection using point cloud data and photographic images, GDi brings advanced algorithms and data solutions that, when combined with Oceaneering’s engineering expertise, will strengthen Oceaneering’s ability to optimize asset management for clients in industries including oil and gas, utilities, and power generation. GDi’s suite of solutions, including its Vision software, complements Oceaneering’s portfolio by supporting enhanced safety, data quality and integrity, and cost efficiency for customers worldwide.

Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, “We look forward to deepening our partnership with GDi through this acquisition, which aligns with our strategic plan to expand our digital and software solutions.”

Karl Green, director of GDi, stated: “We are excited to join the Oceaneering team, which will allow GDi to leverage Oceaneering’s global network and resources, while continuing to deliver the high-quality digital services that our customers expect.”

GDi will continue to operate under its existing brand identity. Oceaneering intends to report GDi’s future financial results through its Integrity Management and Digital Solutions (IMDS) segment.

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