IHS Acquires LogTech (Canada) Ltd.
Thursday, September 3, 2009
IHS Acquires LogTech (Canada) Ltd.
IHS Inc. (NYSE: IHS), a leading global source of critical information and insight, today announced the acquisition of LogTech (Canada) Ltd., a leader in the development of pragmatic and cost-effective software solutions, services and digital log data for the petroleum industry, for CA$3.3 million.
“LogTech is an excellent acquisition for IHS, allowing us to increase our Canadian well log coverage and expand our well log management product offerings across all of our markets,” said IHS Chairman and Chief Executive Officer Jerre Stead. “IHS customers will benefit greatly from the incremental additions to an already robust digital log collection and the enhanced software to better manage this critical energy information.”
Formed in 1997, LogTech (Canada) Ltd., offers the oil and gas industry a comprehensive suite of services, data and software designed to manage exploration risk and enhance drilling and production success. Its digital well log data is critical to exploration and exploration geoscientists for finding, modeling, interpreting and developing subsurface oil and gas reservoirs.
“LogTech’s scalable well log information management software and comprehensive digital well log collection is an excellent complement to IHS and its slate of energy industry solutions,” said LogTech President and Founding Partner Randy Striemer. “We’re proud to be a part of such a leading-edge company, and to help continue to drive value for IHS customers.”
IHS offers a wide range of critical information, insight and decision support tools for the energy industry, from exploration to consumption. The company’s comprehensive economic, financial, and political coverage on energy markets, companies, transactions, geopolitics and industry trends helps these customers reduce operating costs, increase productivity and effectively evaluate investment opportunities. For more information, visit www.ihs.com/energy.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is a leading global source of critical information and insight, dedicated to providing the most complete and trusted information and expertise. IHS product and service solutions span four areas of information that encompass the most important concerns facing global business today: Energy, Product Lifecycle, Security, and Environment, all supported by Macroeconomics. By focusing on customers first, IHS enables innovative and successful decision-making for customers ranging from governments and multinational companies to smaller companies and technical professionals in more than 180 countries. IHS is celebrating its 50th anniversary in 2009 and employs approximately 3,800 people in 20 countries.
About LogTech (www.logtechcanada.com/)
Based in Calgary, LogTech is a privately held company formed in 1997 with the prompting of the petroleum industry. In the short period of time since the company was founded it has quickly become recognized as a leader in the development of pragmatic and cost-effective software solutions, services and digital log data for the petroleum industry.
IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2009 IHS Inc. All rights reserved.
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