Mergers and Acquistions News
Categories: Software
July 27th 2011, 17:08PM
Business information provider IHS Inc is set to acquire geoscience software maker Seismic Micro-Technology in a bid to expand its presence in the energy sector.
IHS has agreed to pay $500 million (£304 million) for Seismic Micro-Technology, making it the largest deal in the company's history.
It is hoped that the new acquisition will allow IHS to develop software and data products which will help its customers find and develop oil and gas reserves.
IHS, which provides clients with information on areas such as alternative energy and commercial shipping, currently generates around 40 per cent of its revenue from the energy sector.
Jerre Stead, IHS chairman and chief executive, said: "Together, we can provide a more robust, valuable and integrated solution set of information, software and insight to support our energy customers worldwide and give them even more options to support their business needs."
Seismic Micro-Technology, based in Houston, employs 171 staff and has more than 3,000 customers worldwide. 
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)