Emerson is set to acquire Paradigm, a provider of software solutions for the oil and gas industry, for $510 million.
Houston-headquartered Paradigm has more than 500 employees globally. Paradigm’s technology offerings will enable Emerson to better help oil and gas operators increase efficiency, reduce costs and improve return on investment.
Paradigm, joined with Emerson’s Roxar software business, creates an Exploration & Production (E&P) software portfolio with offerings spanning seismic processing and interpretation to production modeling.
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.
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.
“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.