Following its acquisition last year of Engineering Seismology Group (ESG), developer of the FracMap package, UK-based engineering group Spectris has acquired Spectraseis, another provider of seismic technology and services for hydraulic fracture monitoring.
The combined companies are also to offer services, analysis and expertise in both downhole and surface-based microseismic technology for induced seismicity monitoring, seismic waveform and reservoir characterization to help operators better understand reservoir behavior.
The new parent company Spectris plc, a supplier of precision instrumentation and controls, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Spectris has annual revenues of approximately £1.2 billion and employs over 8,000 people in more than 30 countries.
Financial terms of the acquisition were not disclosed but the deal is one of three recent acquisitions that cost Spectris a total of £11 million. In view of the parlous state of the non-conventional sector it would seem unlikely that the price was more than a small fraction of the £11 million!
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