Grimes County's largest private employer is under new ownership. Grant Prideco has been sold to Houston-based National Oilwell Varco for stock options and an undisclosed amount of cash.

Grant Prideco is a world leader in drill stem technology development and drill pipe manufacturing, sales and service. It employees 581 workers at its Navasota facility. A spokesman for National Oilwell Varco says the company plans to keep all of the Navasota employees.