Oceaneering International, Inc. (OII) announced that it has closed the previously announced definitive agreement to acquire C & C Technologies, Inc., a global provider of survey and satellite-based positioning services.

Subject to customary post-closing working capital adjustments, the acquisition price of approximately $230 million was paid in cash.

Oceaneering is a global 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 applied technology expertise, Oceaneering also serves the defense and aerospace industries.

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