Sembcorp Marine, a Singapore-based company that provides engineering solutions to the global offshore, marine and energy industries, completed the acquisition of Keppel O&M, the offshore and marine unit of Keppel, for $3.34bn. "The new firm would create a stronger player to capitalize on growing opportunities in the O&M, renewable and clean energy sectors. The combined entity would be better positioned to compete for larger contracts, whilst pursuing the synergies that can arise from the increased operational scale, broader geographic footprint and enhanced capabilities of a larger entity," Sembmarine and Keppel.