Integrated Drilling Equipment (IDE) Company, a vertically integrated drilling rig manufacturer certified by the American Petroleum Institute, has acquired S&P Drives Automation Controls (S&P DAC), LLC, CEO Steve Cope announced. S&P DAC will now be known as International Electric Company (IEC) Automation and Controls.

“The acquisition of S&P Drives Automation Controls’ advanced technology is a key part of our growth strategy, enabling IDE to position itself in the forefront of rig automation,” said Cope. “In four years, S&P Drives Automation Controls has developed a strong and reliable presence in the industry that we intend to strengthen and build on.”

Tags: Integrated Drilling Equipment (IDE) Company