Ultrasonic wellbore imaging specialist DarkVision is set to be acquired by Blackstone Energy Transition Partners, the energy-focused investment arm of Blackstone, the world's largest alternative asset manager. The deal was announced 30 July by Blackstone and Koch Engineered Solutions, DarkVision's current owner.
“Our high bar for innovation and first principles approach has allowed us to build highly disruptive and differentiated products that deliver enormous value to customers, leading to rapid market adoption. We’re still at the early stages of our journey and are excited about the opportunities ahead as we keep building more advanced generations of ultrasound technology. We’re thrilled to be partnering with Blackstone as we continue to advance our vision of becoming the global leader in nondestructive testing,” Stephen Robinson, the CEO and founder of DarkVision, said in a statement.
Founded in 2013 and headquartered in North Vancouver, British Columbia, DarkVision provides imaging services to the oil and gas industry that help assess the internal condition of wellbore casing. The company has contributed to industry understanding of perforation erosion, wellbore casing deformation, and other integrity issues.
According to the acquisition announcement, DarkVision has also developed imaging sensors, semiconductor technologies, artificial intelligence models, and rendering software.
"DarkVision is exactly the type of business we look to back: a market-leading company built by exceptional entrepreneurial founders, with differentiated technology and strong customer relationships," David Foley, global head of Blackstone Energy Transition Partners, said in a press release.
DarkVision has about 300 employees and the terms of the transaction, subject to customary closing conditions, were not disclosed.