Deepsea Technologies Acquires AF Global UK
Houston-based Deepsea Technologies, Inc. (DTI) on Tuesday announced it has acquire a 100% share AF Global UK Ltd. (AFGUK), the subsea division of AFG Holdings Corporation. The company will now operate under the name Deepsea Technologies UK Ltd.
Subsea connection systems specialist AF Global UK has delivered more than 1,700 systems, serving all key subsea regions globally.
DTI said it will integrate its existing technologies and products to create a solutions-based subsea hardware organization. The acquisition adds UK operations to DTI's existing structure in the US, Brazil and India.
Sanjay Reddy, president of Deepsea Technologies, said, “AFGlobal UK Ltd has a longstanding history of providing innovative and effective subsea solutions. Their deepwater expertise will complement Deepsea’s existing products and technologies. The long established presence of AFGUK, the Retlock connection systems, and AFGUK’s deepwater expertise will significantly complement Deepsea Technologies Inc. subsea solutions offering.”
Mike Walter of AFGlobal Corporation said, “AFGlobal UK has found the right home, and we are confident they will grow the organization.”