Oceaneering Announces Acquisition of AIRSIS

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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(R) , provides web-based location reporting on commercial vessels. Oceaneering is committed to servicing AIRSIS' existing customers, including its 3,000 PortVision(R) (www.portvision.com) users, and growing its presence internationally by leveraging Oceaneering's global footprint.

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