Thursday, September 10, 2009

FMC Technologies Acquires Direct Drive Systems

Houston-based FMC Technologies reported yesterday that it has acquired Direct Drive Systems, a California-based maker of high performance motors and bearings for the oil and gas industry. The deal is worth $120M. Direct Drive's products are used in offshore platforms, subsea processing, and for pumping natural gas pipelines. FMC Technologies develops technology for the energy and industrial market.