Drilling Tools International to acquire Superior Drilling for $32.2M

Drilling Tools International (DTI) and Superior Drilling (SDPI) announced they have entered into a definitive agreement under which DTI agreed to acquire SDP for total consideration of approximately $32.2M payable in cash and DTI stock. The transaction was unanimously approved by the board of directors of DTI and SDP and a special committee of the board of directors of SDP. The closing of the transaction is expected to occur in the third quarter of 2024.