HOUSTON (AP) — Offshore services provider Tidewater Inc. has agreed to buy Houston-based GulfMark Offshore Inc. in a $340 million stock deal.

A statement released Monday says the combined company will operate under the Tidewater brand and be led by Tidewater CEO John Rynd.

Tidewater was based in New Orleans but earlier this year moved its headquarters to Houston. The company describes itself as having more than 60 years of experience supporting offshore energy exploration and production.