"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," says DNV's Group CEO, Henrik O. Madsen, who will be the CEO of the combined new company.

"Our customers will benefit from an increased service offering and global competence base as well as one of the densest networks."

The new company will have a combined turnover of some €2.5 billion and will be headquartered in Norway. It will have more than 17,000 employees and an extensive global network of offices.

The DNV Foundation will hold 63.5% of the shares and GL's owner Mayfair SE will hold 36.5%. 

DNV GL Group will operate in the business segments Maritime, Oil & Gas, Energy and Business Assurance.