Emerson has agreed to acquire Paradigm, a leading provider of software solutions for the oil and gas industry, for a purchase price of $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, exploration and production (E&P) software portfolio with offerings spanning seismic processing and interpretation to production modelling. Paradigm’s technology offerings will enable Emerson assist oil and gas operators to increase efficiency, reduce costs and improve return on investment.
Expanding Emerson’s E&P software and solutions enables customers to 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, to make decisions in the field leading to more efficient operations.
“This acquisition is a significant technology investment that meets our customers’ demand for an independent provider of E&P software solutions,” said Emerson chairman and CEO 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.
New Würth Elektronik location in South Africa
News
A new Würth Elektronik branch has opened in Brackenfell, Western Cape. The location operates under the name Wurth Electronics South Africa and will serve local customers, as well as being responsible for markets in Botswana, Mauritius, Namibia, Tanzania and Zambia.
Read more...John Thompson and BECS partner to deliver biomass energy solutions ACTOM Electrical Machines
News
John Thompson, a division of ACTOM and South Africa’s leading provider of industrial energy solutions, has announced a strategic partnership with Berkeley Energy Corporate Solutions, a specialist developer and supplier of biomass energy projects. Together, the companies aim to accelerate the deployment of reliable, renewable steam solutions to industrial customers across Africa.
Read more...Academy pumps out the next generation of experts
News
KSB Pumps and Valves has invested in a specialised training centre designed to equip internal and branch staff and certified partners with in-depth knowledge of KSB products and systems.
Read more...Celebrating the power of diversity in the engineering sector
News
The engineering sector has historically been a male-dominated field, and to a large extent it still is. However, this is changing, and the shift is gaining significant momentum as more women begin to take up leadership roles, spearheading innovation and driving inclusive growth.
Read more...From the Editor's desk: What happened to the metaverse? Technews Publishing (SA Instrumentation & Control)
News
One of the most interesting technical crashes in recent years is the metaverse. As recently as 2022, it was white hot, with massive hype led by Meta. Even Bill Gates was saying that in two to three years ...
Read more...Nidec adopts Siemens Teamcenter for electric motor development Siemens South Africa
News
Siemens Digital Industries Software has announced that Nidec Corporation, a Japanese manufacturer and distributor of electric motors, has adopted Teamcenter X software from the Siemens Xcelerator portfolio of industry software to achieve innovative motor development and supply to set new industry standards, including automotive.
Read more...Yaskawa Southern Africa and Sol-Tech advance industrial robotics training Yaskawa Southern Africa
News
Yaskawa Southern Africa has announced a strategic collaboration with Sol-Tech, a private vocational training institution based in Pretoria, to strengthen technical education in industrial robotics and support the development of future-focused talent for South Africa’s evolving manufacturing sector.
Read more...Building skills and sharing knowledge for growth in Africa SEW-EURODRIVE
News
As a leading provider of drive and automation solutions across the continent, SEW-EURODRIVE recognises that local insight and on-the-ground capability are critical to delivering effective sustainable results. The company continues to invest in people development and technical training within its network of African subsidiaries and partners, supporting the long-term growth of its customers and the broader industrial ecosystem.
While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.
printer friendly version