Scandoil  

Emerson Agrees to Acquire Paradigm


Published Oct 17, 2017
[an error occurred while processing this directive]

Edit page New page Hide edit links

Emerson logo

Emerson has agreed to acquire Paradigm®, a provider of software solutions for the oil and gas industry, for a purchase price of USD 510 million, reflecting a multiple of 13 times expected 2017 EBITDA. Paradigm, joined with Emerson’s existing Roxar software business, creates a best-in-class, end-to-end Exploration & Production (E&P) software portfolio with offerings spanning seismic processing and interpretation to production modelling. Paradigm’s technology offerings will enable Emerson to better help oil and gas operators increase efficiency, reduce costs and improve return on investment.

Expanding Emerson’s E&P software and solutions enables the company 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, Emerson’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.

“This acquisition is a significant technology investment that meets our customers’ growing demand for an independent, global provider of E&P software solutions,” says Emerson Chairman and Chief Executive Officer David N. Farr. “Paradigm broadens our leadership in the upstream oil and gas market by adding a range of subsurface software tools that complement our growing Automation Solutions portfolio.”

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.

“When combined with Emerson’s Roxar Software Solutions portfolio, Paradigm expands the global upstream oil and gas capability of our Plantweb™ digital ecosystem, creating a more comprehensive digital portfolio for our customers from exploration to production,” says Mike Train, Executive President of Emerson Automation Solutions. “Our offering can now help customers better maximise the value of their existing investments and reach Top Quartile performance.” Top Quartile performance is defined as achieving operations and capital performance in the top 25 percent of peer companies.

The acquisition is expected to close within the next 60 days, subject to various regulatory approvals.

Tags: Emerson, Paradigm®




Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml