IHS to acquire Seismic Micro-Technology

IHS Inc. has a definitive agreement to acquire Seismic Micro-Technology in a $500-million transaction.

Offshore staff

ENGLEWOOD, Colorado – IHS Inc. has a definitive agreement to acquire Seismic Micro-Technology in a $500-million transaction. Completion of the acquisition is pending the usual regulatory approvals.

“The acquisition of SMT will increase the ability of IHS to offer mission-critical geoscience software and data products to customers in our largest end-market, Energy, and give SMT customers the ability to seamlessly access the critical oil and gas information and insight products of IHS,” said Jerre Stead, IHS chairman and CEO.

“Together, we can provide a more robust, valuable and integrated solution set of information, software and insight to support our energy customers worldwide and give them even more options to support their business need,” Stead said.

“We and IHS agreed to this transaction in order to invest in KINGDOM and accelerate its growth,” said Arshad Matin, president and CEO of SMT. “We will continue to deliver and support KINGDOM products. With the global reach and resources of IHS, we will create enhanced value for our customers.”

07/27/2011

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