Drilling Tools International Corp. announced on October 3, 2024, the successful completion of its acquisition of European Drilling Projects (EDP). EDP is a global provider specializing in next-generation stabilizers, specialty reamers, and wellbore optimization technology for the drilling industry. The terms of the transaction were not disclosed.
This acquisition is a strategic move to advance DTI's technological capabilities and global expansion efforts. EDP brings additional cutting-edge drilling tool solutions to DTI's technology portfolio, complementing its existing Drill-N-Ream technology. The integration secures EDP's innovative technology, intellectual property, and key personnel.
The acquisition also enhances DTI's competitive edge by allowing it to offer premium, value-added tools in a market segment often characterized by commoditization. Furthermore, EDP's established Eastern Hemisphere footprint and market penetration align with DTI's global expansion strategies, reinforcing its position as a leader in innovative drilling solutions.
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