Emerson has agreed to acquire Paradigm®, a leading provider of software solutions for the oil and gas industry, for a purchase price of US$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.
The acquisition is expected to close within the next 60 days, subject to various regulatory approvals.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/16102017/emerson-acquires-paradigm/