Penningtons Manches Cooper advises the shareholders of Global Design Innovation Limited on its acquisition by Oceaneering International

Posted: 08/11/2024

The corporate team at Penningtons Manches Cooper has advised the shareholders of Global Design Innovation Limited (GDi), a provider of digital and software services, on its acquisition by US-based Oceaneering International. Oceaneering is a NY-listed global technology company, providing engineered services and products, and robotic solutions to the offshore energy, defence, aerospace, manufacturing, and entertainment industries.
 
Founded in 2016, GDi provides cutting-edge technologies to assist its clients in digitally transforming their processes, specifically in the creation and management of digital twins and collaboration centre software solutions. 
 
As the only provider certified by the United Kingdom Accreditation Service (UKAS) to perform remote visual inspection using point cloud data and photographic images, GDi brings advanced algorithms and data solutions that, when combined with Oceaneering’s engineering expertise, will strengthen Oceaneering’s ability to optimise asset management for clients in industries including oil and gas, utilities, and power generation. GDi’s suite of solutions, including its Vision software, complements Oceaneering’s portfolio by supporting enhanced safety, data quality and integrity, and cost efficiency for customers worldwide.
 
The Penningtons Manches Cooper team was led by corporate partner Will Axtell, with support from managing associate Dominique Sabatini and associates Leo Shrimpton and Archie Perks. The wider team included employment senior associate Luke Shaw, corporate tax partner Kathy Potter, pensions partner Alison Hills and senior associate Clare Coley, commercial and IP senior associate Nora Pook and managing associate Edmund Forey, and trainee solicitor Amelia Johnson.  
 
Karl Green, director of GDi, said: “We are excited to join the Oceaneering team, which will allow GDi to leverage Oceaneering’s global network and resources, while continuing to deliver the high-quality digital services that our customers expect. I’d like to thank Will Axtell and the team at Penningtons Manches Cooper for their expertise and support on this strategic international deal.”
 
Will Axtell said: “We are delighted to have advised the team at GDi on this important transaction, where our corporate team continues to demonstrate its significant strength in advising on complex UK-US cross-border corporate deals in the technology sector. We wish the team at GDi all the best for their exciting future with Oceaneering International.”

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