Subsea Holding AS has acquired 80% of Tech4you AS shareholding as of 06/10/2011. Tech4you is located in Verningen outside Larvik in Norway. Tech4you focuses on multidispline design and engineering services to the oil & gas, maritime, downstream and general process industry. Tech4you also provides 3D animation movie production that focuses on technical 3D visualisations.

Subsea Holding AS is the owner of Subsea House AS that has its offices in Borgeskogen in Stokke, Norway. Subsea House AS is a company with strong growth records that offers services to product and system solutions providers within the oil & gas subsea market segment. Subsea House AS posesses a new and unique tailor made state of the art facility for development, maintenance, repair, assembly and testing of subsea products and systems. Subsea House AS also provides highly qualified project managers, engineering and procurement services and can offer turn-key solutions to its Clients that are global technology and solution providers to the oil & gas subsea market segment. Subsea House AS is accredited according to NS-EN ISO 9001:2008 and is an approved Achilles provider.

Subsea Holding AS will through this acquistion increase its portfolio and further strenghten its competence within design and engineering to its market segment.

Tor Ole Myhre, the CEO in Subsea Holding AS and Managing Director for SubSea House AS is very satisfied with this closure and with this taken the first step in his strategic and ambitious roll up plans to further expand SubSea Holding’s businsess portfolio that includes a global roll-up and footprint. He further added that SubSea Holding by immediate notice, will start its search for highly skilled employees and consultants within engineering, design and project management for its subsea market segment.

Stokke, 30th of June 2011