GOWell Energy Technology Acquires WellSense; Financial Terms Not Disclosed
Benzinga Newsdesk 7 hours ago
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GOWell Energy Technology (NASDAQ:GOW) ("GOWell" or the "Company"), a global one-stop-shop for innovative well logging solutions in the energy sector, today announced that its Singapore operating
GOWell Energy Technology (NASDAQ:GOW) ("GOWell" or the "Company"), a global one-stop-shop for innovative well logging solutions in the energy sector, today announced that its Singapore operating subsidiary, GOWell Technology Singapore Pte. Ltd, has completed the acquisition of Well-Sense Holdings Ltd (together with its subsidiaries, "WellSense"), a leading provider of distributed fiber optic sensing and well integrity diagnostic technologies based in Aberdeen, Scotland.
The acquisition brings together WellSense's proprietary fiber optic sensing technologies, technical expertise and established customer relationships with GOWell's global footprint and customer network. The combined organization will be positioned to provide a wide range of advanced well-integrity solutions across international energy markets.
Financial terms of the transaction were not disclosed. The acquisition was funded from GOWell’s existing cash.