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Australian defence and technology firm Tenix Alliance said it has bought New Zealand engineering and steel fabrication business Robt Stone.
Robt Stone specialises in project management, mechanical design and maintenance, steel fabrication, and construction in New Zealand, Papua New Guinea and the South Pacific.
Tenix Alliance chief executive Sean Woellner said the merged company would have a workforce of nearly 600.
This week, Tenix's parent said it would seek expressions of interest from up to 40 potential bidders in a proposed A$1 billion ($1.189 billion) auction of the private company.
Australian construction firm Leighton Holdings and engineering firm United Group were touted as possible suitors.