Emerson has acquired Paradigm, a global provider of software solutions to the oil and gas industry, aiming to create a comprehensive exploration and production (E&P) software portfolio offering
The combination of Paradigm with Emerson’s Roxar software business will focus on seismic processing and interpretation to production modelling. Paradigm’s technology offerings are expected to enable Emerson to increase efficiency, reduce costs and improve return on investment for oil and gas operators.
“This acquisition is a significant technology investment that meets our customers’ growing demand for an independent, global provider of E&P software solutions,” according to David N Farr, chairman and CEO of Emerson.
In addition, Emeson also hopes to broaden its presence in the upstream oil and gas market by adding a range of subsurface software tools for automation solutions portfolio.
Commenting on the acquisition, Mike Train, executive president of Emerson Automation Solutions, said that the offering aims to help customers to maximise the value of their existing investments and reach top quartile performance, which has been defined as achieving operations and capital performance in the top 25 per cent of peer companies.
Headquartered in Houston, Paradigm has more than 500 employees globally. The company provides tools to help customers gaining deeper insight into the subsurface, reduce uncertainty and support responsible asset management.
