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NOV Acquires Intellectual Property Rights of MAATS Tech

Houston-based energy solutions provider NOV has recently made headlines with its acquisition of the intellectual property (IP) rights of MAATS Tech, a defunct business known for its turnkey ship-based carousel and cable-lay systems. This move signals NOV’s commitment to expanding its capabilities within the industry.

In a strategic decision for the future, NOV has established a new Cable Lay team in Stonehouse, UK in 2023. This team, which comprises former senior and principal engineers from MAATS Tech, boasts over 70 years of collective experience in crafting fully integrated lay systems with cutting-edge automation and line control technology. By leveraging their expertise, NOV aims to enhance its offerings and strengthen its position in the market.

The team’s noteworthy track record at MAATS Tech includes the successful delivery of over 35 carousels and sophisticated cable-lay systems for some of the most advanced vessels in operation today. Looking ahead, NOV is poised to provide comprehensive support for these assets, including aftermarket services, spare parts, and upgrades, further solidifying their commitment to customer satisfaction.

Moreover, the dedicated Cable Lay team in Stonehouse has been seamlessly integrated with the Remacut team in Rivoli, Italy, fostering collaboration and synergy across borders. This consolidation of talent and resources underscores NOV’s strategic vision to position itself as a premier supplier in the cable-lay industry.

Commenting on the acquisition, Paolo Portonero, Managing Director of Remacut, expressed optimism about the future prospects of NOV Marine and Construction, emphasizing their long-term goals. Meanwhile, Jamie Bryson, Engineering Manager Projects/Design at NOV, conveyed enthusiasm for the partnership and the opportunity to continue serving both existing and new customers.

How AI legalese decoder Can Help: The AI legalese decoder tool can assist in simplifying and clarifying complex legal language, making it easier for stakeholders to grasp the implications of acquisitions such as NOV’s IP rights purchase from MAATS Tech. By breaking down technical jargon and transforming it into plain language, this tool enhances communication among all parties involved, thereby fostering transparency and efficiency in decision-making processes.

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