Emerson acquired Paradigm

(courtesy of Emerson)

(courtesy of Emerson)

After a report on the talks between the two companies, Emerson has agreed to acquire the provider of software solutions for the oil and gas industry Paradigm 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 an end-to-end Exploration & Production software portfolio with offerings spanning seismic processing and interpretation to production modeling. 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 maximize 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.
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.