IHS to Acquire Seismic Micro-Technology
July 26 2011 - 4:04PM
Business Wire
IHS Inc. (NYSE:IHS), the leading global source of information
and analysis, today announced it has signed a definitive agreement
to acquire Seismic Micro-Technology (SMT), a market leader for
geoscience software. The $500 million cash transaction – the
largest acquisition in IHS history – is subject to customary
closing conditions, including expiration or termination of the
applicable waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976.
“The acquisition of SMT will increase the ability of IHS to
offer mission-critical geoscience software and data products to
customers in our largest end-market, Energy, and give SMT customers
the ability to seamlessly access the critical oil and gas
information and insight products of IHS,” said Jerre Stead, IHS
chairman and chief executive officer. “SMT offers software and
solutions to help customers across the globe find and develop new
oil and gas reserves, and optimize production from new and existing
assets. Together, we can provide a more robust, valuable and
integrated solution set of information, software and insight to
support our energy customers worldwide and give them even more
options to support their business needs.”
Since 1984, SMT has provided the upstream exploration and
production industry with easy to use, highly integrated,
cost-effective software solutions. Headquartered in Houston, the
company developed the first geoscience interpretation tools for the
Microsoft Windows environment to help accelerate hydrocarbon
exploration, collaboration and decision-making while delivering
exceptional accuracy and consistency. Today, SMT is a global leader
in Windows-based exploration and production software, and its
solutions are used by geoscientists in more than 100 countries to
evaluate potential reservoirs and plan field development.
“This acquisition will extend the global reach of SMT’s seismic
interpretation platform, KINGDOM, while enhancing the existing IHS
portfolio of applications and services to better serve the global
energy industry and add even more value for customers,” said Arshad
Matin, SMT president and CEO.
With 171 employees and more than 3,000 customers globally, SMT
has earned a loyal following for its software platforms that boast
great ease of use and mobility. IHS has a long-standing focus on
and investment in information browsing and analysis tools for the
oil and gas industry in order to give customers efficient and
accurate use of its industry-leading information products.
Stead added: “Together, IHS and SMT will continue to provide
leading software applications with increased integration and data
links, moving forward onto a fully integrated platform to meet the
oil and gas asset industry’s needs for collaborative
decision-making.”
IHS senior management will host a conference call and webcast to
discuss the strategic and operating aspects of the SMT acquisition
on Tuesday, July 26 at 5:00 p.m. EDT. To hear the live event, visit
the IHS website at http://www.ihs.com/Investor-Relations/ and log
on at least 15 minutes prior to the start of the webcast.
Simmons & Company International acted as financial advisor
to SMT.
About IHS
(www.ihs.com)
IHS (NYSE: IHS) is the leading source of information and insight
in critical areas that shape today’s business landscape, 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. Businesses and governments in more than 165
countries around the globe rely on the comprehensive content,
expert independent analysis and flexible delivery methods of IHS to
make high-impact decisions and develop strategies with speed and
confidence. IHS has been in business since 1959 and became a
publicly traded company on the New York Stock Exchange in 2005.
Headquartered in Englewood, Colorado, USA, IHS employs more than
5,100 people in more than 30 countries around the world.
IHS is a registered trademark of IHS Inc. All other company and
product names may be trademarks of their respective owners.
Copyright © 2011 IHS Inc. All rights reserved.
About SMT
(www.seismicmicro.com)
Seismic Micro-Technology, a market leader for geoscience
software, helps organizations find oil and gas faster. The
company's KINGDOM software allows geoscientists to focus on the
analysis, not on managing the tools. SMT software enables intuitive
interpretation, 3D modeling, analysis and data management, in one
integrated executable. Customers can install and interpret data in
the same day. With 3,000 customers in 100 nations, SMT has
demonstrated performance proven to scale. SMT is headquartered in
Houston, Texas with offices in Calgary, London, Dubai, Moscow, Rio
de Janeiro and Singapore.
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forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
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similar expressions. Although IHS and its management believe that
the expectations reflected in such forward-looking statements are
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beyond the control of IHS--that could cause actual results and
developments to differ materially from those expressed in, or
implied or projected by, the forward-looking information and
statements. These risks and uncertainties include those discussed
or identified by IHS from time to time in its public filings. Other
than as required by applicable law, IHS does not undertake any
obligation to update or revise any forward-looking information or
statements. Please consult our public filings at www.sec.gov or
www.ihs.com.
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