M&A Deal Summary

Computer Modelling Group Acquires Bluware

On September 25, 2023, Computer Modelling Group acquired software company Bluware from EV Private Equity

Acquisition Highlights
  • This is Computer Modelling Group’s 1st transaction in the Software sector.
  • This is Computer Modelling Group’s 1st transaction in the United States.
  • This is Computer Modelling Group’s 1st transaction in Texas.

M&A Deal Summary
Date 2023-09-25
Target Bluware
Sector Software
Buyer(s) Computer Modelling Group
Sellers(s) EV Private Equity
Deal Type Add-on Acquisition

Target

Bluware

Houston, Texas, United States
Bluware is a privately-owned company that produces game-changing solutions for the most challenging objectives in the petrotechnical world. Bluware’s Headwave software platform is used by some of the biggest names in E&P to accelerate digital transformation initiatives, delivering both near-term ROI and long-term strategic value. Working in close collaboration with industry leaders, Bluware develops software that leaps ahead of long-time established offerings to drive business innovation and a whole new way of working. Bluware was founded in 1987 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Computer Modelling Group

Calgary, Alberta, Canada
Category Company
Founded 1978
Sector Software
Employees287
Revenue 109M CAD (2024)
DESCRIPTION

Computer Modelling Group is a software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services. Computer Modelling Group was founded in 1978 and is based in Calgary, Alberta.

DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-12 Sharp Reflections

Kaiserslautern, Germany

Sharp Reflections specializes in seismic processing and interpretation platforms for geophysicists and quantitative interpreters. Sharp Reflections was founded in 2010 and is based in Kaiserslautern, Germany.

Buy €25M

Seller(S) 1

SELLER

EV Private Equity

Stavanger, Norway

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 1.0B NOK
Size Small
Type Sector Focused
DESCRIPTION

Energy Ventures is an independent venture capital firm that manages/advises four venture funds. It actively seeks early- to mid-stage investments in technology companies that deliver a marketable, proprietary product or service in the upstream oil and gas sector. Energy Ventures focuses on investments based in the North Sea area or North America with an international orientation. Established in 2002, Energy Ventures is based in Stavanger, Norway with additional offices in Aberdeen, UK, and Houston, Texas.

DEAL STATS #
Overall 31 of 32
Sector (Software) 4 of 4
Type (Add-on Acquisition) 22 of 23
State (Texas) 5 of 5
Country (United States) 7 of 7
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-04 Trainor

Tønsberg, Norway

Trainor is an international professional service company providing consultancy technical training and qualified personnel worldwide. Its areas of expertise are electrical safety, automation, and processes within oil and gas. Trainor was formed in 1996 and is headquartered in Tønsberg, Norway, with offices in China, Singapore, Vietnam, South Korea, and Myanmar.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-18 Deep Casing Tools

Westhill, United Kingdom

Deep Casing Tools is an oil and gas technology development company providing unique and innovative downhole technology solutions to customers worldwide. Its products facilitate running casing and completion strings to targeted depth reducing well cost and improving well integrity and reservoir contact. Deep Casing Tools was formed in 2008 and is based in Westhill, United Kingdom.

Sell -
Mergr

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