Paris, France-headquartered CGG* has acquired TerraSpark, developer of the InsightEarth geosciences interpretation package. TerraSpark was formed in 2008 as a spin-out from the University of Colorado (formerly the BP Center of Visualization).
InsightEarth, along with CGG’s other software offerings, Hampson-Russell and Jason, are to be re-housed in new business lines, GeoSoftware and GeoConsulting. The first unit handles development, training and sales. The second is to offer ‘full-spectrum’ geological and geophysical consulting services, rolling in the ex-Robertson geoscience consulting services (acquired from Fugro in 2012). The consulting unit will also sell multi-client products spanning geological, petroleum engineering and economics along with the NPA satellite mapping service and GeoConsulting-related training.
The new units are led by Kamal Al-Yayha, SVP, GeoSoftware and Mark Weber, SVP GeoConsulting. Reporting on its 2013 financial year, CGG stated that, ‘Reservoir and geology activities continued to be solid, driven by sustained demand for geology products and services and reservoir softwares (sic).’ More from CGG.
* Compagnie générale de géophysique.
This article originally appeared in Oil IT Journal 2014 Issue # 2.
For more information or to comment on this topic email here.