Drillinginfo Inc. acquired Denver-based Transform Software & Services Inc. Details of the transaction were not disclosed, but the transaction will bring immediate growth synergies to Drillinginfo in terms of skills, experience and momentum to the combined companies.
“This is much more than an acquisition — this is central to our vision of enabling technical professionals at oil and gas companies to make faster and smarter decisions in order to provide us with low-cost energy,” said Allen Gilmer, CEO and chairman of Drillinginfo. “We’ve been watching Transform’s breakthrough technology evolve over the last few years, especially in today’s unconventional oil and gas plays. Hands down, their work is a multiyear leap forward relative to the rest of the industry and will be integral to our product strategy going forward.’’
Founded in 2004, Transform is widely considered the pioneer in the development of an analytics-based approach for visualizing, modeling, interpreting and quantifying oil and gas reservoirs. Its cutting-edge suite of geophysical, geological and engineering software delivers significant improvements for drilling and production optimization. Transform’s technology suite is the only software of its kind created to meet the challenges of unconventional oil and gas reservoir development, providing a critical tool for the commercialization of this important global resource base. From its core strength in unconventional resource plays, Transform is increasingly being adopted as an essential solution for conventional, enhanced recovery and other exploration and production reservoir challenges. The company’s customers represent a Who’s Who of the leading global energy companies.
“Transform represents an All-Star team of oilfield technology professionals and we are excited to have them as part of Drillinginfo,’’ said Gilmer. “The unique combination of Drillinginfo’s SaaS platform and industry-leading oil and gas exploration and production data, paired with Transform’s deep technical and analytic tools, will enable E&P companies to make much faster and better oil and gas decisions.”
Drillinginfo will retain Transform’s Denver-based office and all of its employees. Transform’s CEO and co-founder, Dean Witte, Ph.D., an industry veteran and geophysicist, has been named senior vice president of research for Drillinginfo and CEO of the Transform division. Murray Roth, Transform’s president and co-founder, is now vice president of worldwide consulting for Drillinginfo and president of the Transform division.
“Together we will provide the most advanced data, analysis and decision-support solution for the E&P industry,” said Dean Witte, CEO of Transform.
Murray Roth, president of Transform, added, "We look forward to enhancing our customers' analytic and interpretation results with the breadth of Drillinginfo data, enabling more accurate sweet spot targeting and more efficient well optimization."
Vaquero Capital served as the mergers and acquisitions advisor to Drillinginfo on this transaction.