IHS To Buy SMT For $500M

IHS, a global source of information and analysis, is purchasing Seismic Micro-Technology a provider of geoscience software, for $500 million.

IHS, a global source of information and analysis, is purchasing Seismic Micro-Technology (SMT), a provider of geoscience software, for $500 million. The deal will expand the global reach of SMT’s seismic interpretation platform KINGDOM, while upgrading the existing IHS portfolio of applications and services. Simmons & Company International provided financial advice to SMT on the deal. SMT provides software and solutions to help customers globally find and develop new oil and gas reserves as well as optimize production from new and existing assets.

Click here for the release from IHS.