Marine Link
Sunday, September 25, 2016

OSI to Acquire Technology Supplier

November 8, 2005

Offshore Systems International has entered into a formal agreement to acquire a United States-based defense contracting company. The purchase price will be $9 million, of which approximately $8.1 million will be paid in cash, with the balance to be paid by the issuance of 1,067,975 OSI common shares. OSI first announced a non-binding letter of intent to acquire the target company on July 11, 2005. The target company reported revenues of approximately $12 million (unaudited) in 2004 and has shown consistent growth and profitability throughout its history. The company has approximately 80 employees located at three offices in the United States. The acquisition is expected to be completed by the end of 2005. Closing is subject to receipt of regulatory approvals and satisfaction of certain conditions.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News