Done deals

Ametek, Spectro Scientific, GE, BHGE, Cold Bore Technology, Rice Investment Group, Geospace Technologies, PGS Americas, Ikon Science, Great Hill Partners, Chevron Technology Ventures, Energy Innovation Capital, Mission Secure, Nine Energy Service, Magnum Oil Tools, PDI Software, Outsite Networks, SCF Ventures, Ruths Analytics and Innovation, SAP, Contextor, Seequent, Siemens, Mendix, Validere, Sallyport Investments, Versa Integrity Group, Maintenance & Turnaround Resources, Weatherford, CSL Capital Management.

Ametek has acquired Spectro Scientific in an approx. $190 million deal. Spectro will join Ametek’s Electronic Instruments Group.

Amongst various long-term agreements made recently, GE has granted its BHGE unit access to GE’s ‘digital software’ and technology along with various operations and pricing arrangements. The agreements are a prelude to the intended ‘orderly separation’ of BHGE from GE. The companies have agreed on a sale by GE of part of its BHGE stake which will however maintain GE’s stake above 50%.

Fracking software boutique Cold Bore Technology has closed an investment by Rice Investment Group. Cold Bore’s IIoT-based electronic completions recorder and remote frac operating system are delivered as a ‘SmartPad’ service.

Geospace Technologies has acquired the intellectual property and related assets of OptoSeis from PGS Americas. OptoSeis is a fiber optic sensing technology used in marine permanent reservoir monitoring and as a ‘viable technology’ for large-scale, cabled land seismic data acquisition. The deal involves an initial $1.8 million cash payment with up to $23.2 million to follow over a five-and-a-half year earn-out period, paid from revenues generated from the OptoSeis business.

Ikon Science has received an undisclosed investment from Great Hill Partners, a Boston based private equity company with over $5bn under investment. The deal is said to help Ikon achieve its next level of strategic growth in both products and services.

Chevron Technology Ventures and Energy Innovation Capital led an $8 million funding round in favor of control system cybersecurity specialist Mission Secure. Funds will be used to accelerate growth and expansion of Mission Secure throughout the energy, defense and transportation sectors.

Nine Energy Service has acquired Magnum Oil Tools.

PDI Software, a provider of enterprise software solutions to the convenience retail, wholesale petroleum and logistics industries, has acquired Outsite Networks, a loyalty company that has served the US convenience retail sector for over 18 years, carrying-out over 6 billion transactions.

SCF Ventures has made a ‘growth equity investment’ in Ruths Analytics and Innovation (, developer of, a ‘seamless combination of big data, data science and chat’ that enables the analytics-driven digital oilfield.

SAP has acquired Contextor, a provider of ‘robotic’ process automation solutions that will help SAP accelerate deployment of its ‘Leonardo’ machine learning portfolio.

Seequent has acquired Geosoft in a move which will see the merger of the Leapfrog and Oasis Montaj geological software tools.

Siemens digital factory unit has acquired Mendix, a developer of a cloud-native, low-code visual application development environment that will ‘increase growth and accelerate’ adoption of MindSphere.

Validere has raised $7 million in seed funding in an investment round led by Sallyport Investments. The monies will fuel Validere’s US expansion and further the development of its AI-powered blending, logistics, and trading optimization platform.

Versa Integrity Group has acquired the assets of Maintenance & Turnaround Resources, a provider of asset integrity management and non-destructive testing services to the oil and gas industry.

Weatherford has sold its laboratory services and and geological analysis business to a group led by CSL Capital Management for $205 million in cash.

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