Following a difficult 2009, Kelman is going private and will be amalgamated into a new wholly-owned subsidiary of Seyco, a corporation controlled by Seymour Epstein who is chairman of Kelman’s board of directors and a major shareholder.
Acorn Energy is to acquire control of US Sensor Systems, currently field testing a ‘fiber optic geophone.’ Acorn already owns 10% of the company and has options for up to 84% at an aggregate consideration of approx. $6 million in cash and paper.
Aspen Technology has signed two new commercial agents in the Middle East—Arabesque Group, in Kuwait, and Independent Technical Services in
CGGVeritas unit Hampson-Russell sold the commercial rights to its GLI3D refraction statics package to Houston-based GeoTomo.
Acorn Energy subsidiary Coreworx is to acquire Decision Dynamics Technology (DDT). DDT shareholders will receive 1 million common Acorn shares.
Cortex Business Solutions has sold $6 million worth of stock to a syndicate of underwriters led by CI Capital Markets. The deal includes an option on $1 million more.
Energy Ventures and Simmons Parallel Energy Fund have invested £7.5 million in Aberdeen-based Red Spider’s remote open/close well intervention and completion technologies.
ENGlobal Corporation has acquired selected assets of Houston-based automation specialist Control Dynamics International. Terms were not disclosed.
Nokia has acquired MetaCarta Inc.
Schlumberger has combined with Smith International—Smith shareholders receive a 37.5% premium on their holding. Schlumberger also acquired Houston-based Nexus Geosciences which is to integrate its WesternGeco business unit. And again—Schlumberger has acquired Geoservices in a $1 billion transaction.
SGI has bought selected assets from Copan Systems—expanding its storage portfolio to include a ‘scalable, energy-efficient’ massive array of idle disks (MAID). Purchase price was approx. $2 million cash.
TerraSpark has received a $6 million investment from Lime Rock Partners to ‘accelerate’ the commercialization and development of its Insight Earth seismic visualization and interpretation products.
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