Unique RFID tracking technology for drill pipe sold to the largest drill pipe manufacturer

TracID AS, a Norwegian company with leading RFID technology for tracking of drill pipe and related equipment, was in March acquired by National Oilwell Varco, the leading international provider oil and gas equipment.

TracID was prior to the transaction owned by Statoil Venture, the venture capital firm Northzone, SR-Investering, other private investors and employees.

Alpha Corporate Finance has acted as the exclusive financial advisor to the owners of TracID in relation to the sale.

TracID is a leading provider of RFID technology for lifecycle tracking of drill pipe and other equipment within the oil and gas industry. TracID was established in 2005 as a merger between three Norwegian initiatives aiming at utilizing RFID technology. TracID is based in Stavanger, Norway.

National Oilwell Varco is a leading international provider of equipment and components to the oil and gas industry focusing on three segments: Rig Systems, Wellbore Technologies and Completion & Production Solutions. Listed on NYSE and reported revenues of USD 14.8bn in 2015.