Oil States: To Purchase Geodynamics for $525m With $300m in Cash

Oil States International (NYSE:OIS) agrees to acquire GEODynamics, a provider of oil and gas perforation systems and downhole tools from funds managed by Lime Rock Partners for $525M in cash and stock.

The deal consists of $300M of cash at closing, the issuance of 8.66M OIS common shares valued at ~$200M and a $25M unsecured promissory note payable to the sellers.

OIS cites GEODynamics’ highly complementary products that provide opportunities for incremental revenue and an expanded customer base through OIS’s global sales and service network.