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.
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