Emerson (NYSE: EMR) announced it has completed the purchase of Paradigm®, a leading provider of software solutions to the oil and gas industry.
The combination of Paradigm with Emerson’s Roxar software business creates a comprehensive Exploration & Production (E&P) software portfolio offering.
“Emerson is positioned to meet customers’ demand for an independent, global provider of comprehensive E&P software solutions,” said Emerson Chairman and Chief Executive Officer David N. Farr. “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.”
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.