Emerson To Acquire Paradigm For $510 Mln - Quick Facts

(RTTNews) - Emerson (EMR) announced it has agreed to acquire Paradigm, a provider of software solutions for the oil and gas industry, for a purchase price of $510 million. 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.

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.

"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 CEO David Farr.