Emerson Completes Paradigm Acquisition
Deal expands Emerson’s industrial software capabilities for global
upstream oil and gas industry
ST. LOUIS–(BUSINESS WIRE)–Emerson (NYSE: EMR) today announced it has completed the purchase of
Paradigm®, a leading provider of software solutions to the
oil and gas industry.
The combination of Paradigm with Emerson’s Roxar software business
creates a comprehensive Exploration & Production (E&P) software
portfolio offering.
“Emerson is positioned to meet customers’ demand for an independent,
global provider of comprehensive E&P software solutions,” said Emerson
Chairman and Chief Executive Officer David N. Farr. “Paradigm and Roxar
together can better help customers achieve Top Quartile Performance by
increasing efficiency, reducing costs and improving their return on
investment within new and established reservoirs.”
Paradigm is headquartered in Houston and has more than 500 employees
globally. The company provides an array of tools that enable customers
to gain deeper insight into the subsurface, reduce uncertainty and
support responsible asset management.
To view the original acquisition announcement and accompanying
presentation, go to Emerson.com/investor or click here for the announcement
and presentation.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a
global technology and engineering company providing innovative solutions
for customers in industrial, commercial, and residential markets. Our
Emerson Automation Solutions business helps process, hybrid, and
discrete manufacturers maximize production, protect personnel and the
environment while optimizing their energy and operating costs. Our
Emerson Commercial & Residential Solutions business helps ensure human
comfort and health, protect food quality and safety, advance energy
efficiency, and create sustainable infrastructure. For more information,
visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be
“forward-looking” statements, which involve risks and uncertainties, and
Emerson undertakes no obligation to update any such statements to
reflect later developments. These risks and uncertainties include
economic and currency conditions, market demand, pricing, protection of
intellectual property, and competitive and technological factors, among
others, as set forth in Emerson’s most recent Annual Report on Form 10-K
and subsequent reports filed with the SEC.
Contacts
Investor Contact:
Emerson
Tim Reeves, 314-553-2197
or
Media
Contact:
For Emerson
Mark Polzin, 314-982-1758