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    Racal Survey acquires KC Offshore

    News // May 22, 2000
    Racal NCS Inc, part of the Racal Survey Group, has acquired full ownership of KC Offshore and its subsidiary Kinco Operating Inc from Veritas DGC for US$8.6M in cash.

    The acquisition gives Racal new and increased capabilities in the Gulf of Mexico in geophysical site surveys. This increases Racal's involvement in the development cycle of new oilfields. This acquisition expands Racal's presence as a leading player in the rapidly growing Gulf of Mexico market where in 2000/1 there are 24 major deepwater surveys planned.

    KC Offshore provides high-resolution geoscience services in the Gulf of Mexico. Since the mid-1980s, the business has held a substantial market share in the region providing high-resolution geophysical surveys, pipeline route surveys, positioning and platform site abandonment surveys to leading companies such as Texaco and Chevron.

    Tony Harrison, President of Racal Survey's American operations said of the acquisition: "The combined customer base of Racal and KC Offshore will yield new opportunities for both companies. One such opportunity allows Racal to enter into a new market, the platform site abandonment surveys where KC has a valuable share of the market. This promises significant potential, as there are currently over 3,200 structures in the Gulf alone."

    Mike Kinsella, President of KC Offshore, agreeing said: "This acquisition firmly underlines Racal's commitment to the Gulf of Mexico and means through the new capability brought by this acquisition that Racal can come closer to providing a truly one-stopshop to its clients. Racal is an excellent match for KC Offshore and will bring excellent career opportunities for all those existing KC employees."

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