National Oilwell Varco, Inc., a listed US-based provider of equipment and components used in oil and gas drilling and production operations, oilfield services and supply chain integration services to the upstream oil and gas industry, has acquired TracID AS, a Norway-based provider of RFID Systems and solutions for the Oil & Gas industry, from Statoil Venture, a Norway-based venture capital fund managed by Energy Capital Management AS, a Norway-based venture capital firm, and Northzone VI LP, a Norway-based venture capital fund of Northzone Ventures AS, a Norway-based private equity firm, for an undisclosed consideration.
TracID has reported revenues of NOK 31.72m (EUR 3.52m) and loss of 41.85m (EUR 4.64m) in 2014.
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