Expro International Group PLC (www.exprogroup.com), a provider of well flow management to the oil and gas industries, acquired the oil and gas metering business of CiDRA Corporation (www.cidra.com). The deal is valued at $60.5 million.
Upon completion of the acquisition, CiDRA”s oil and gas business will be renamed Expro Meters. Expro Meters will develop, manufacture, and sell flowmeters for oil and gas applications, as well as provide production testing services on a rental basis. CiDRA will continue to serve the flow measurement needs of several other market segments.
CiDRA’s flow measurement technology is based on a proprietary, nonintrusive system for wet gas and bubbly liquid applications. The nonintrusive, clamp-on design of the flowmeters enables deployment on new or existing installations and inherently lowers both the technical risks and operating costs associated with flow measurement.
EDITOR”S NOTE: This article was changed on June 20 to clarify that CiDRA is expected to continue to offer flow measurement solutions to non-oil and gas markets.