USA: Software for the Oil and Gas Industry Emerson Acquires Paradigm
Emerson has agreed to acquire Paradigm, a provider of software solutions for the oil and gas industry, for a purchase price of $ 510 million. The acquisition is expected to close within the next 60 days, subject to various regulatory approvals.
Houston/USA — Paradigm, joined with the company’s existing Roxar software business, creates a end-to-end Exploration & Production (E&P) software portfolio with offerings spanning seismic processing and interpretation to production modelling.
Expanding the company’s E&P software and solutions enables Emerson to help operators achieve Top Quartile performance on investment and operational goals within new and established reservoirs. Interpreting data and generating high-fidelity representations of existing brownfield assets allows oil and gas companies to maximise production and avoid non-productive drilling and exploration spending.
In addition, the company’s expanded services now enable oil and gas operators, through machine learning and cloud computing, to make decisions in the field leading to more efficient operations. Top Quartile performance is defined as achieving operations and capital performance in the top 25 % of peer companies.
Paradigm is headquartered in Houston and has more than 500 employees globally. The company provides an array of tools that enable customers to gain deeper insight into the subsurface, reduce uncertainty and support responsible asset management.
The acqired company expands the global upstream oil and gas capability of the proprietary Plantweb digital ecosystem.