Emerson’s Paradigm takeover will boost position in exploration software
17 Oct 2017
Emerson has positioned itself as the largest independent provider of exploration and production software solutions following its bid to acquire Paradigm.
Its offer of $510 million (£385 million) is subject to regulatory approval and is expected to complete within two months.
“This acquisition is a significant technology investment that meets our customers’ growing demand for an independent, global provider of E&P software solutions,” said Emerson chairman and chief executive officer David N. Farr.
The combination of Paradigm, a leading software supplier to the oil and gas sector, and Emerson’s Roxar software arm further boosts the purchasing company’s dominance in the field.
Farr added that once completed the deal would add a range of subsurface software tools that complement Emerson’s Automation Solutions portfolio.
This acquisition is a significant technology investment that meets our customers’ growing demand
David N. Farr, chairman and CEO, Emerson
Executive president of Emerson Automation Solutions, Mike Train, added: “When combined with Emerson’s Roxar Software Solutions portfolio, Paradigm expands the global upstream oil and gas capability of our Plantweb digital ecosystem, creating a more comprehensive digital portfolio for our customers from exploration to production.”
* British company Thermal Fluid Solutions claims it has become the first UK firm in its sector to open an operation in the US.
TFS has done business with America for nearly a decade and its customers include both Arauco and Norbord.
Announcing the subsidiary would open in Greenville, South Carolina, managing director Richard Franklin said: “The US is home to a considerable and growing number of our customers, so it made sense to open an office there in order to provide a more ‘local’ facility.
“The American process industry is extremely alert to the fact that continuous risk assessment and management is vital in order to guarantee the safe, efficient and legislatively compliant operation of thermal fluid systems. As such, it is a very important market for us.”
TFS says its pioneering sustainable alternative to fluid replacement – HTfluidfit – can extend fluid life by a factor of at least 10, saving customers up to 70% of their thermal fluid costs.
There are no comments on this article, leave a comment below to have your say