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National Oilwell Varco buys Dutch firm GustoMSC

National Oilwell Varco Inc. bought Dutch rig design and engineering firm GustoMSC BV, according to a GustoMSC spokeswoman June 4.

"We are excited about the opportunities this creates and look forward to continuing our current business and offerings," Lian van Walsem, document control coordinator at GustoMSC said in an email.

GustoMSC, founded in 2003, designs and engineers solutions for mobile offshore units. The company also provides consultancy, customized and basic design, associated equipment, and operational support services.

A purchase price was not disclosed.

National Oilwell Varco, which is based in Houston, has been busy on the M&A front this year, closing three deals in the first quarter, the company's CEO Clay Williams said during an earnings call at the end of April.

This latest acquisition will allow National Oilwell Varco to expand and further vertically integrate its offshore rig business in light of the fact that global oil prices continue to rebound after sinking in 2014, the article said.