NOV Acquires MAATS Tech's Carousel and Cable-Lay Systems IP

Wednesday, March 20, 2024

Houston-based energy solutions provider NOV has acquired the intellectual property (IP) rights of MAATS Tech, a defunct business providing turnkey ship-based carousel and cable-lay systems.

In 2023, NOV formed a new Cable Lay team based in Stonehouse, UK. The team, formerly senior and principal engineers with MAATS Tech, brings more than 70 years of combined experience in engineering fully integrated lay systems with advanced automation and line control.

The team’s extensive track record at MAATS Tech includes delivering 35+ carousels as well as cable-lay systems for some of the most advanced cable-lay vessels currently in operation. NOV will be able to support those assets going forward, providing aftermarket, spares, and upgrades, the company said.

The dedicated Cable Lay team in Stonehouse is incorporated with the Remacut team in Rivoli, Italy.

“The acquisition of MAATS Tech intellectual property, combined with the integration of the MAATS Tech Engineering Team, demonstrates NOV Marine and Construction’s strategic long-term vision to be a leading supplier to the cable-lay industry,” said Paolo Portonero, Managing Director, Remacut

“We are excited and appreciate the opportunity to be part of NOV, to continue our work, and to support our customers, old and new,” added Jamie Bryson, Engineering Manager Projects/Design, NOV.

Categories: Mergers & Acquisitions Offshore Energy Subsea Industry News Activity Europe North America Cable Laying

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