Acquisition Yokogawa to Acquire Software Provider
Yokogawa will gain additional market shares in oil-and-gas-industry. The automation specialist is going to buy the software and consultancy company KBC Advanced Technologies.
Tokyo, Japan – Yokogawa announced that it has reached an agreement with KBC Advanced Technologies, a consulting and software provider to the oil-and-gas and downstream industries. The company is to acquire KBC, making the softwareprovider a wholly-owned subsidiary of Yokogawa. The transaction has been approved at a meeting of Yokogawa’s Board of Directors, and KBC’s Board of Directors has resolved to recommend the acquisition to KBC’s shareholders. The acquisition is expected to close between April and June 2016. The total acquisition price is estimated as approximately $270 million.
KBC is a U.K.-based provider of software and consultancy to the oil-and-gas industry, focused on operational excellence and profit improvement for both the upstream (oil production) and downstream (oil refining and refinery-integrated petrochemicals) segments. KBC employs more than 300 staff primarily based out of three main hubs in the U.K., U.S. and Singapore, plus a number of other smaller offices.