Paradigm has signed a Memorandum of Understanding with the shareholders of OpenSpirit Corp. to subscribe to a primary equity offering in the company. Established in 2000 by Chevron, Shell and Schlumberger, OpenSpirit provides a CORBA-based interoperability framework for upstream software.
Paradigm CEO John Gibson, who will be joining OpenSpirit’s board of directors said, ‘Explorationists and producers need cooperation of the leading geoscience application and data providers. Paradigm is making a very definite choice to ‘play well with the others’ by sharing OpenSpirit’s vision and objectives.’
OpenSpirit president Dan Piette told Oil IT Journal, ‘This deal Is a stamp of approval for what we do. Paradigm will be using OpenSpirit in its own products. In addition, some of our existing investors will be putting new money into the company.’
Subsequent to the deal, the position of Paradigm’s own CORBA-based integration framework, Epos, is unclear. Epos currently provides data sharing and application interoperability of Paradigm’s software with third-party applications.
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