February 28, 2023
Welltec announces the acquisition of Autentik AS
Welltec A/S, a market leader in Completion and Intervention within the energy industry, announces the acquisition of Autentik AS, a niche technology provider specializing in electric wireline fishing and interventions. The acquisition represents a strategic move by Welltec to expand its downhole intervention capabilities and is in line with the company’s vision to cement itself as the number one provider of hi-tech, innovative products and services.
"We are excited to welcome Autentik into the Welltec family," says Tommy Eikeland, CCO Welltec. "There is a mutual admiration for innovation and understanding of risk-taking which, to a certain level, is required when developing new technology. We have only respect for the work done to build the company from the ground up. Together with their interventions expertise, this will add tremendous value and momentum to our organization and enhance our ability to provide our clients with cutting-edge solutions. We have already performed several jobs together and the advantages we can bring are evident. We look forward to working together to drive further growth and innovation in our industry."
“This partnership will merge Autentik´s true passion for innovation and new solutions to transform wireline interventions together with Welltec´s global reach and market leadership in Completion and Intervention, “ adds Roy Kristiansen, CEO of Autentik. “This is a historic step in the life of Autentik, and a move that will benefit the clients and partners we work with. We couldn´t ask for a better fit, and we look forward to joining the Welltec team”
Autentik will operate as a wholly owned subsidiary of Welltec. The financial terms of the acquisition are not disclosed.
For more information about this acquisition, please contact Tommy Eikeland, CCO Welltec or Alex Nicodimou, VP Sales & Marketing Welltec.
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