Monday 9 January 2017

Dril-Quip, Inc. announced today that it has acquired The Technologies Alliance, Inc. d/b/a OilPatch Technologies (OPT) for approximately $20 million funded with cash on hand, subject to closing adjustments. Founded in 1990 and based in Houston, Texas, OPT is a provider of offshore riser systems and components, proprietary threaded connections and other products, with a focus on deepwater Spar and TLP Systems.

Blake DeBerry, President and Chief Executive Officer of Dril-Quip, stated, "We welcome OilPatch Technologies and its employees to Dril-Quip and are confident their product offerings will complement and further strengthen our position as a leading provider of Dry Tree Systems and associated riser products."