M&A Deal Summary

Weatherford Acquires CygNet Software

On May 19, 2011, Weatherford acquired software company CygNet Software

Acquisition Highlights
  • This is Weatherford’s 1st transaction in the Software sector.
  • This is Weatherford’s 7th transaction in the United States.
  • This is Weatherford’s 1st transaction in California.

M&A Deal Summary

Date 2011-05-19
Target CygNet Software
Sector Software
Buyer(s) Weatherford
Deal Type Add-on Acquisition
Advisor(s) Woodside Capital Partners (Financial)

Target

CygNet Software

San Luis Obispo, California, United States
CygNet Software provides enterprise software and industry solutions that collect, manage and distribute essential operations data. Robust, proven and evergreen, CygNet extends customer horizons with improved operational efficiency and increased market responsiveness.

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Buyer(S) 1

Buyer

Weatherford

Houston, Texas, United States

Category Company
Founded 1972
Sector Energy Services and Equipment
Employees19,000
Revenue 5.5B USD (2024)
DESCRIPTION
Weatherford office in Houston, Texas.
Weatherford office in Houston, Texas.

Weatherford is a diversified international energy service and manufacturing company that provides a variety of services and equipment to the exploration, production, and transmission sectors of the oil and gas industry. The Company operates in virtually every oil and gas exploration and production region in the world and divides its business into two separate segments: Drilling Services and Production Systems. Weatherford was formed in 1972 and is based in Houston, Texas.


DEAL STATS #
Overall 9 of 16
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 9 of 16
State: California M&A 1 of 1
Country: United States M&A 7 of 12
Year: 2011 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-03 OilTracers

Dallas, Texas, United States

OilTracers is a data interpretation service offered by Weatherford Laboratories in which data are interpreted by earth science experts that specialize in integration of geochemical, geological, and engineering data to solve various exploration, development, and production problems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-02 Hasco Manufacturing Co.

Sapulpa, Oklahoma, United States

Hasco Manufacturing Co., Inc. is a manufacturer of oil field equipment.

Buy -