Definition: Generate an appropriate title for the given text. The generated title must be short and include the main topic of the text. The preferred titles are under fifteen words.
Input: Weir will initially pay $240m (£148m) for the firm with a deferred payment of up to $145m (£90m) depending on performance targets. Oklahoma-based Mathena makes and rents out specialist equipment used in fracking. Glasgow-based Weir said the deal supported its expansion in this area. Commenting on the acquisition, Weir chief executive, Keith Cochrane, said: "Mathena is a well-regarded business in the US upstream oil and gas markets, with a strong management team and market share in the pressure control drilling markets. "This deal is a close strategic fit with our existing pressure control business and gives us a larger suite of products which we can sell to the expanded customer base." He added: "The business has strong growth potential and increases our exposure to shale oil and gas, markets with attractive long-term structural growth prospects." Weir has made a number of acquisitions throughout the year to boost its presence in the booming shale oil and gas industry in the US, which now accounts for about a third of the company's revenues. The takeover of Mathena is expected to be completed by the end of this year.

Weir acquires US drilling firm Mathena for $240m