OREANDA-NEWS. September 01, 2011. Integra announced that it has acquired SIAM Company - which specialises in wireline and slickline services, production logging and testing - for USD 76mn., reported the press-centre of ATON.

With this purchase Integra should be able to increase the product range of its technology services business segment.
 
Bottom line
It is hard to estimate the impact of the acquisition on Integra’s financials or whether it is value accretive because no data is currently available. We believe Integra will provide more information during today’s conference call devoted to its 1H11 results.

With this step Integra continues its policy of focusing on high-margin technological and formation evaluation services while abandoning non-core business segments. We remind readers that yesterday Integra announced that it had sold TSP for USD 26mn (a non-core asset involved in the manufacturing of drilling rigs).