Weatherford International announced a definitive agreement to acquire NCS Multistage. NCS Multistage stockholders will receive Weatherford common stock or a combination of stock and cash. The transaction is expected to be immediately accretive to adjusted Free Cash Flow per share, and the company anticipates realizing at least $15 million in annual cost synergies within 18 months of closing. The acquisition strengthens Weatherford's completions portfolio by integrating NCS Multistage's specialized technology for optimizing well completions and field development in complex unconventional resource environments. Weatherford plans to use its extensive international footprint to scale NCS Multistage's product suite to a broader global customer base.
NCS Multistage Holdings IncNCS Multistage is being acquired by Weatherford in a stock and cash deal, providing a premium to shareholders.
Weatherford International plcDeal is immediately accretive to adjusted FCF per share and expected to deliver at least $15M in annual cost synergies.