Done Deals

Paradigm, Fox Paine, Al Shaheen, GE, Triple Point, Visiant, Proserv, Blueback Reservoir, Rocksource ...

Cayman Islands-registered Paradigm received a $65 million investment from affiliates of private equity firm Fox Paine & Co. The cash will be used to accelerate the commercialization and rollout recent ‘game changing’ R&D breakthroughs.

Qatar Petroleum unit Al Shaheen is to acquire 50% of GE’s PII Pipeline Solutions business. GE Oil & Gas maintains operational control. GE Oil and Gas and Al Shaheen are also establishing a dedicated pipeline integrity and inspection center in Qatar to support pipeline solutions in the Middle East.

Triple Point Technology (TPT) has acquired Enerbility Software GmbH, extending its Commodity XL trading software’s reach in the European market. All employees of Enerbility, including the founders, have joined Triple Point. TPT has also bought Softmar, adding vessel chartering, operations and freight rate risk management to its solution set.

Visiant Pimsoft has acquired OSIsoft’s Sigmafine production accounting and data reconciliation product and business. Visiant is to continue to develop Sigmafine as an extension of the OSIsoft PI System, integrating it with its SOA-based ERP integration framework.

Proserv Offshore has expanded its offshore well engineering with the acquisition of Twin Hills Wireline Services.

Blueback Reservoir has acquired Bridge Software. Bridge’s EM Data Integrator supports data from EMGS, WesternGeco, OHM and Petromarker. Blueback also recently opened an office in Houston offering software sales, support and consulting services.

Bergen based oil company Rocksource Geotech has invested in TechnoImaging of Salt Lake City, a developer of advanced 3D algorithms for modelling, inversion and migration of CSEM data. The companies are to start a joint R&D program.

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