Industrial services provider Emerson has announced it has completed the purchase of Paradigm, a provider of software products to the oil and gas industry.
The combination of Paradigm with Emerson’s Roxar software business creates a comprehensive exploration and production (E&P) software portfolio offering.
“Emerson is positioned to meet customers’ demand for an independent, global provider of comprehensive E&P software solutions,” Emerson's chairman and chief executive officer David N Farr, was quoted as saying in a press release.
“Paradigm and Roxar together can better help customers achieve Top Quartile Performance by increasing efficiency, reducing costs and improving their return on investment within new and established reservoirs,” Farr said.
Paradigm is headquartered in Houston and has more than 500 employees globally. The company provides products that enable customers gain deeper insight into the subsurface, reduce uncertainty and support responsible asset management.