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N-Sea Signs Letter of Intent to Acquire Subcom

16 November 2011

The N-Sea Group BV and Subcom BV have signed a Letter of Intent in relation to the acquisition of Subcom BV by the N-Sea Group BV. Both parties seek to complete this mutually beneficial transaction by the end of this week.

As of January 2012 Subcom BV will be integrated into the organization of N-Shore Diving BV. The founder and CEO of Subcom BV Rodger Weitzel will become the general manager of N-Shore Diving BV on January 1 when Subcom BV will no longer operate under the Subcom BV name.

N-Sea Group BV Managing Director Gerard Keser commented on the acquisition by saying that; "N-Shore Diving BV already has a strong market position in the South-West Netherlands, yet, by strengthening our base, we will be able to respond stronger to the market and take the next step. Subcom BV is a company that has proven itself in the market in which we operate and will become of great value to our organization. "

Rodger Weitzel CEO of Subcom BV said; "By joining forces with N-Shore Diving BV, I am assured of a stable base for mycustomers and employees and we see the future with great confidence."