FMC Technologies Inc. (USA; NYSE: FTI;5251R9N7) is in the process of acquiring Direct Drive Systems (DDS, USA; website).

DDS was founded in 2004 and is based in Fullerton, California. The company manufactures synchronous high-speed, high-power permanent magnet (PM) motors and generators for compressors, pumps and generators, primarily for the oil and gas and process industries. DDS also designs and manufactures advanced active magnetic bearings, for oil-free turbomachinery applications.

A PowerPoint presentation for DDS' patented homopolar active-feedback PM magnetic bearing systems is here: DDS PowerPoint slide show
FMC said the merger will benefit both companies by combining FMC's system integration capabilities with DDS's strength in compact, high-efficiency motors. Working the synergies, FMC expects the result to be a new generation of advanced, highly efficient, pumps and compressors, strengthening FMC's position in the oil recovery industry.

FMC is paying approximately USD $120 million for DDS.