Oceaneering Acquires C & C Technologies, Inc.

Oceaneering International, Inc. (NYSE:OII) announced that it has closed the previously announced definitive agreement to acquire C & C Technologies, Inc., a global provider of survey and satellite-based positioning services.

Subject to customary post-closing working capital adjustments, the acquisition price of approximately $230 million was paid in cash.

Oceaneering is a global 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 applied technology expertise, Oceaneering also serves the defense and aerospace industries.

For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; 713-329-4670; investorrelations@oceaneering.com.