Seequent has acquired Geosoft, a Toronto-based provider of subsurface geoscience and exploration technology.
No financial terms were disclosed.
Canadian earth scientists Ian MacLeod, Geosoft’s chief technologist, and Colin Reeves were responsible for the company’s founding in 1986.
Seequent, a Christchurch, New Zealand-based visual data science software provider, said the deal will accelerate its growth in the mining, civil engineering, energy, government and environmental sectors.
In September, Seequent was backed by U.S. technology private equity firm Accel-KKR.
Seequent completes acquisition of Geosoft creating unparalleled geological modelling and geoscience software offering
Acquisition accelerates Seequent’s growth in mining, civil engineering, energy, government and environmental sectors.
CHRISTCHURCH, NZ, 21 December, 2018 – Seequent, a world leader in visual data science software, today announced it has completed the acquisition of Geosoft, a Canadian geoscience software company. The acquisition accelerates Seequent’s growth in mining, civil engineering, energy, government and environmental sectors by bringing together its Leapfrog 3D geological modelling software suite with Geosoft’s subsurface geoscience and exploration technology.
Shaun Maloney, Chief Executive of Seequent, says: “We wanted to bring the Leapfrog and Geosoft solutions together to provide our collective customers with subsurface technology that works seamlessly across the life cycle of their projects. Our goal is to better equip our global customers as they work to address some of the world’s biggest earth environment, civil, mining and energy challenges.”
With the acquisition of Geosoft, Seequent now has a strong market position in subsurface geoscience and modelling software solutions with offices in 20 locations, serving customers in over 100 countries. Toronto-headquartered Geosoft, with a network of offices around the globe, will operate as a distinct business unit within Seequent, which has its global headquarters in Christchurch, New Zealand. Seequent will continue to drive R&D from New Zealand and Canada.
“Over the past month, we’ve had a fantastic opportunity to talk with hundreds of Leapfrog and Geosoft customers who have attended Seequent’s annual innovation roadshow, Lyceum, which focuses on industry challenges and future trends and opportunities,” says Maloney.
“The feedback about our announcement to acquire Geosoft has been extremely positive. Customers see enhanced value with a greater range of solutions – and it’s also viewed as a very positive move by the wider geoscience community, as together we can deliver even more innovation.”
Seequent is known worldwide for its Leapfrog® 3D geological modelling solutions. First introduced to the mining and minerals industry close to 15 years ago, Leapfrog® helps uncover valuable insights from geological data and enables geologists and executives alike to confidently make critical time-sensitive investment and environmental decisions. The company has since launched Leapfrog versions for the geothermal and energy industries and civil engineering and environmental industries, as well as other visualisation and collaboration technologies.
Geosoft’s Oasis montaj® technology platform is an industry standard within the geosciences, supporting advanced analysis and understanding of the Earth’s subsurface and subsea environments. The company’s Target for ArcGIS software is the market-leading geological application for Esri, delivering essential workflows for geoscience and GIS professionals working on the ArcGIS platform. With its release of VOXI Earth Modelling, Geosoft pioneered the use of high performance geocomputing and 3D geophysical inversion modelling in the cloud.
Seequent was advised on the transaction by Murray & Co (financial) and DLA Piper (legal). Geosoft was advised by DCF Capital Partners (financial) and Gowling WLG (legal).
Clare Bisso – Communications Manager
+64 21 318 596
Sandra Lukey – PR for Seequent
Shine Group Limited
+64 21 2262 858
Seequent is a world leader in the development of visual data science software for understanding subsurface geology, with customers in over 100 countries. Our solutions enable people to create rich stories and uncover valuable insights from geological data, and ultimately make better decisions about earth, energy and environment challenges.
Seequent is known worldwide for its Leapfrog® 3D geological modelling software, initially developed for the mining and minerals industry. Now, civil engineering, environmental and geothermal energy industries also rely on Seequent’s software to manage project risks and uncover opportunities for their business.
With diverse applications, the technology supports large scale projects globally including, road and rail tunnel construction, groundwater detection and management, geothermal exploration, resourced evaluation, and subterranean storage of spent nuclear fuel.
Seequent’s global footprint includes its Christchurch-based HQ and R&D centre, and a network of offices across Asia/Pacific, Africa, South America, North America and Europe providing solutions for customers in over 100 countries.
For more on Seequent see: www.seequent.com; Twitter: @seequentglobal
For more on Leapfrog visit: www.leapfrog3d.com; Twitter: @Leapfrog3D