- Cable protection company Tekmar Group said it had agreed to buy Subsea Innovation for up to £4m from its founder Gary Ritchie-Bland.

Subsea Innovation currently operated in the global oil and gas market and would bring world-class engineering in the development of back-deck equipment and subsea pipeline repair clamps, Tekmar said.

The deal included the purchase of a manufacturing and office facility in Darlington , which would become Tekmar's headquarters.

At 9:10am: [LON:TGP] Tekmar Group Plc Ord 1p share price was +5p at 160p

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