Computer Modelling Group Acquires Sharp Reflections GmbH

Deal News | Nov 12, 2024 | Globenewswire

Computer Modelling Group Acquires Sharp Reflections GmbH

Computer Modelling Group Ltd. (CMG) has announced the acquisition of Sharp Reflections GmbH, a seismic processing and interpretation company. Sharp's expertise in high-performance cloud computing enables efficient handling of large seismic datasets, enhancing geophysical analysis and decision-making. The acquisition, valued at approximately €25 million, was funded by CMG's existing cash. It supports CMG's strategy to expand its seismic solutions with innovative technology. Sharp generated substantial revenues and a healthy EBITDA margin, with a customer base including major oil and gas companies. Sharp's CEO, Bill Shea, will continue to lead the integration. This move aligns with CMG's vision of enhancing solutions in the upstream oil and gas sector.

Sectors

  • Software and Technology
  • Oil and Gas

Geography

  • Germany – Sharp Reflections GmbH is headquartered in Germany, reflecting the geographic origin of the acquired company.
  • Canada – Computer Modelling Group Ltd. is headquartered in Calgary, Alberta, Canada, indicating the location of the acquiring company.

Industry

  • Software and Technology – The acquisition involves a software company specializing in seismic interpretation technology, highlighting advancements in cloud computing and data analysis.
  • Oil and Gas – Sharp Reflections' customer base includes major oil and gas companies, and the technology acquired is pivotal for exploration and production activities in this sector.

Financials

  • €25.0 million – The total consideration paid by CMG for the acquisition of Sharp Reflections.
  • €10.0 million / $14.7 million – Sharp Reflections' unaudited revenue for the year ended July 31, 2024.
  • Low double-digit – Description of Sharp Reflections' Adjusted EBITDA Margin.

Participants

NameRoleTypeDescription
Computer Modelling Group Ltd.Acquiring CompanyCompanyA global software and consulting company focusing on solving challenges in the energy industry.
Sharp Reflections GmbHTarget CompanyCompanyA company specializing in seismic processing and interpretation with global operations and a strong foothold in the oil and gas sector.
Pramod JainCEO of CMGPersonCEO of Computer Modelling Group Ltd., leading the acquisition strategy.
Bill SheaCEO of Sharp ReflectionsPersonCo-founder and CEO of Sharp Reflections, who will remain with the company to oversee the transition and integration.