[SatNews] ...expected to enhance current asset tracking service offered on offshore drilling rigs and vessels engaged in subsea activities.
Oceaneering International, Inc. (NYSE:OII) announced it has acquired AIRSIS Inc., a provider of remote asset management software services. AIRSIS' revenue for 2013 was approximately $7 million, and its future financial results will be included in Oceaneering's Subsea Projects segment.
This acquisition is expected to enhance Oceaneering's current asset tracking service offered on offshore drilling rigs and vessels engaged in subsea activities. Asset tracking information is utilized by customers to establish a common operating picture, which improves operational efficiency and enables incident and emergency response collaboration and reporting. This picture collects and displays real-time data associated with an offshore operation, including rig or vessel position, metocean conditions, remotely operated vehicle video, and subsea survey information.
AIRSIS' signature service, PortVision®, provides web-based location reporting on commercial vessels. Oceaneering is committed to servicing AIRSIS' existing customers, including its 3,000 PortVision® users, and growing its presence internationally by leveraging Oceaneering's global footprint.
Oceaneering is a global oilfield 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 advanced applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries.
The next exciting chapter for PortVision - An open letter to our customers, partners, and friends
In 2005, four oil companies came to AIRSIS asking if we could help them. In 2007, PortVision was born as a result of that request and collaboration. Through the years we have worked closely with many of you to meet the industry’s vessel tracking, fleet management, and terminal management needs through our PortVision and TerminalSmart product lines. For those who have been on this journey with us, I would like to thank you for your support, collaboration, and patronage.
Today will begin an exciting new chapter for PortVision that will result in PortVision growing our technical team, evolving our operations and support resources, and expanding our global AIS coverage.
I am pleased to announce that PortVision and its oceaneering-logoparent company, AIRSIS Inc., has been acquired by Oceaneering International. Oceaneering has a 50-year history of delivering ground-breaking products, services, and solutions in the maritime and energy sectors. With the support of Oceaneering, AIRSIS and PortVision will continue to deliver all of the products and custom solutions that we do today. But we will go forward with the resources and support of a 12,000 employee global company. And I am proud to say that I and the rest of the AIRSIS and PortVision teams are now a part of the Oceaneering family.
For our customers, much will stay the same. You will still be interacting with the familiar faces (and voices) of our team. Our products will continue to evolve, and we will continue our commitment to industry engagement and collaboration. Over time, you will see our capabilities grow, particularly in the areas of global footprint from both a support and AIS perspective. And our custom solutions customers will immediately benefit from our larger team of software and hardware professionals.
Thank you for your past support and your continued collaboration as we work together to build the solutions that will continue to improve safety, security, and efficiency in the maritime industry. And thank you as we start this exciting new chapter for our team and become a part of the Oceaneering family.