M&A - NOV Inc.

Form Type: 11-K

Filing Date: 2025-06-26

Corporate Action: Merger

Type: Update

Accession Number: 000119312525149013

Filing Summary: This document is the annual report for the NOV Inc. 401(k) Plan for the fiscal year ending December 31, 2024. The report includes financial statements and the report of the independent registered public accounting firm. The plan, established in 1987, covers domestic employees who have completed at least one hour of service, allowing for both pretax and after-tax contributions. The financial statements present the net assets available for benefits and changes in those assets for the year. Notably, effective April 1, 2025, the company merged the 401(k) retirement plans of Keystone Tower Systems, Inc. and Extract Companies, LLC into the NOV Inc. 401(k) Plan. This merger aimed to streamline administration and unify benefits, involving approximately $9 million of participant account balances being transferred into the plan. The audits were conducted in accordance with PCAOB standards, confirming that the financial statements present fairly the net assets and activities of the plan in compliance with accounting principles generally accepted in the U.S.

Form Type: 10-K

Filing Date: 2025-02-14

Corporate Action: Acquisition

Type: New

Accession Number: 000095017025021042

Filing Summary: The 10-K filing for NOV Inc. includes comprehensive information regarding the company's financial performance, key operational strategies, and specific acquisitions made during the fiscal year. It highlights the successful integration of acquired companies that have expanded NOV's market presence and technological capabilities, particularly in the energy services sector. The document elaborates on revenue streams, segment performance, and the impact of recent acquisitions on overall growth metrics. Furthermore, it addresses future projections and the company's commitment to innovation in response to market dynamics. The filing also touches on challenges faced, including regulatory considerations and market competition, while emphasizing the importance of strategic mergers and acquisitions in navigating industry shifts.