CMG Announces the Acquisition of SeisWare International Inc.

Core Insights - Computer Modelling Group Ltd. (CMG) has announced the acquisition of SeisWare International Inc., a software company specializing in geoscience solutions, for an estimated purchase price of US$6.6 million [1][4] - SeisWare generated approximately US$3.4 million in unaudited revenue for the twelve months ending March 31, 2025, all of which was recurring software revenue [3] - The acquisition aims to enhance CMG's seismic interpretation solutions and reflects the company's strategy of expanding capabilities through high-quality software solutions [3] Company Developments - Herman Nieuwoudt has been promoted to Executive Vice President and President of Seismic Solutions, overseeing all seismic technologies within CMG [5] - SeisWare's team of over 40 employees will join CMG's seismic solutions group, with Murray Brack, CEO of SeisWare, becoming General Manager of SeisWare [5] - The acquisition aligns with CMG's commitment to investing in businesses that can deliver strong returns and long-term value [3][6] Industry Context - SeisWare develops software for geoscience interpretation and field development, providing tools for seismic interpretation, attribute analysis, geological mapping, and 3D well design [2] - CMG is positioned as a global software and consulting company, addressing complex subsurface and surface challenges in the energy industry [7]