Independent consulting and software services provider KBC Advanced Technologies has acquired UK-based software and services provider to the upstream oil and gas industry FEESA in a £11.2m cash and shares agreement.
KBC said that the transaction will allow it to provide profit improvement and business transformation programmes underpinned by technology throughout the entire hydrocarbon value chain.
Following integration with KBC’s Multiflash and Petro-SIM Production technologies, FEESA’s Maximus software completes the KBC software simulation suite from reservoir through to refinery.
The combination of KBC’s and FEESA’s technologies and consulting will enable an oilfield service firm or an upstream operator to understand the impact of changes within reservoir management and production optimisation programmes.
The acquisition comprises £10m in cash and one million KBC shares.
KBC executive chairman Ian Godden said: "This strategic acquisition enables KBC to span the entire hydrocarbon value chain with technical and business transformation consulting underpinned by deep software IP. We expect the software business in particular to benefit from the synergies of an enhanced value suite applicable to the upstream sector."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFEESA managing director Martin Watson said: "We have been impressed with the results from KBC’s Infochem acquisition and feel a triangulation of the three businesses offers the oil and gas industry very compelling value in the design, development and operation of oil and gas fields."
