Siemens will acquire two subsea specialists, Poseidon Group and Bennex Group, from Norway’s Subsea Technology Group.

Scotland-based POSEIDON offers subsea marinisation, engineering and consulting services, while Norwegian firm Bennex designs and produces subsea equipment mainly for power solutions.

The combined revenue generated by the two firms is €75m ($104m).

Siemens Oil & Gas Division CEO Tom Blades said the acquisition of Poseidon and Bennex will strengthen Siemen’s in-house capabilities in marinisation, subsea engineering and consulting, and place itself as a developer of subsea power grid solutions based on its traditional electrical engineering core competence.

The transaction details, including cost, were not disclosed.