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Update: Norway's DNV and Germany's GL unveil merger.
Norway’s DNV and Germany’s GL – two of the world’s powerhouses in certification, testing and consultancy for the energy industry – have announced they will merge.
The new entity will be called DNV GL Group. The two former competitors say it "will be one of the world's leading ship classification societies and risk experts in the oil and gas, renewable energy and power sectors, and among the global top three in management system certification".
DNV's group CEO, Henrik Madsen, will be CEO of the new company, which will be based in Norway.
Madsen says: "The merger rests on a strong strategic rationale, and responds to the challenges of increased globalisation, rapid technological change and the need for sustainable development.
"Our customers will benefit from an increased service offering and global competence base as well as one of the densest networks."
Both companies have a strong presence in the global renewable energy sector.
GL bought UK consultants Garrad Hassan in 2009. DNV bought Dutch energy consultancy Kema last year.
The newly-formed combined business will have 17,000 staff and an annual turnover of about €2.5bn ($3.3bn).
The DNV Foundation will hold 63.5% of the new company, with GL's owner Mayfair SE owning the rest.