IHS will acquire Seismic Micro-Technology (SMT), a geoscience software provider, for $500m in cash.
SMT’s geoscience software helps organisations find and develop new oil and gas reserves faster; and the company’s KINGDOM software allows geoscientists to focus on the analysis, and not on managing the tools.
Headquartered in Houston, Texas and with offices in Calgary, London, Dubai, Moscow, Rio de Janeiro and Singapore, the company’s software is used by 3,000 companies in over 100 countries.
SMT software enables intuitive interpretation, 3D modeling, analysis and data management, in one integrated executable, enabling customers to install and interpret data in the same day.
IHS, a business information services and analysis company, headquartered in Colorado, offers information and insight in critical areas, including energy and power; design and supply chain; defense, risk and security; environmental, health and safety (EHS) and sustainability; country and industry forecasting; and commodities, pricing and cost.
The deal, touted to be the largest acquisition in IHS history, will increase the ability of IHS to offer mission-critical geoscience software and data products to customers in its largest end-market, energy.
Together, the companies aim to provide a more robust, valuable and integrated set of information, software and insight to drive hydrocarbon exploration, IHS said.
