Ultra-deepwater excavation and recovery firm Marin has confirmed that it is to acquire excavating and trenching solutions provider AGR Seabed Intervention. The news comes after the two companies formed a successful strategic alliance this year, according to Your Industry News.

The acquisition will contribute to Marin's strategy of expanding its global excavation services. Clients will benefit from cost-effective and practical solutions and expertise in route preparation, excavation, claycutting, and recovery, the report explained.

Marin Chief Executive Officer George Stroud said of the deal: "Acquiring AGR Seabed Intervention complements our position in the market. We have already worked together on global projects and both businesses have a proven track record executing high-level engineering and technical operations. This is an exciting time for clients, especially those looking for early execution of difficult excavation projects, as Marin has all of the required tooling to gain greater results at site."

Under the terms of the said transaction, AGR Seabed Intervention will merge with Marin. Workers from AGR's Aberdeen office will move to Marin's office in Ellon, Aberdeenshire, Your Industry News reported.