US technology and engineering firm Emerson has snapped up a software company for £385million ($510million).
Emerson said the tie-up with Paradigm would allow it to offer a greater range of exploration and production (E&P) software services, including seismic processing and interpretation.
It means Emerson will be better equipped to help clients improve their efficiency and reduce costs.
The acquisition is expected to close in the next 60 days.
Houston-headquartered Paradigm employs more than 500 people across almost 30 operational bases worldwide. The company has an office in Aberdeen.
Emerson did not say how many Paradigm employees would be transferred once the acquisition goes through.
Emerson said: “We’re not able to share additional information until the acquisition closes.”
Emerson chief executive David Farr said: “This acquisition is a significant technology investment that meets our customers’ growing demand for an independent, global provider of E&P software solutions.
“Paradigm broadens our leadership in the upstream oil and gas market by adding a range of subsurface software tools that complement our growing automation solutions portfolio.”
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