ST. LOUIS--(BUSINESS WIRE)--Emerson (NYSE: EMR) today 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.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information, visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include economic and currency conditions, market demand, pricing, protection of intellectual property, and competitive and technological factors, among others, as set forth in Emerson’s most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.