Integrated Drilling Equipment Company and Empeiria Acquisition Corp. are going to combine and look for acquisition opportunities. Alan B. Menkes, former Chief Executive Officer of Empeiria and Director of the combined company, commented, “This transaction is a milestone for EAC.

We are very excited to start working together with IDE's team to pursue growth opportunities organically and through strategic acquisitions.” Stephen Cope, former Chairman and Chief Executive Officer of Integrated Drilling, and newly appointed Chief Executive Officer and Director of the combined company said, “We are very pleased with the closing of the merger with EAC and look forward to becoming a publicly-traded company. We believe the fragmented nature and attractive valuations in our industry make this is an opportune time to pursue acquisitions in the oilfield services and equipment sector. By merging with EAC, we not only leverage a public company platform to increase access to capital, but we also gain EAC's transactional expertise to help us take advantage of opportunities in our space.”