IHS Acquires Fekete Associates
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- IHS Inc. (NYS: IHS) , the leading global source of information and analytics, today announced it has acquired Fekete Associates, a leading provider of integrated reservoir management software and services to the oil and gas industry. Terms of the transaction were not disclosed.
"The acquisition of Fekete plays an important role in better supporting our customers as we continue to seamlessly connect IHS information and expertise with the right tools and technologies linked to key energy workflows," said IHS Chairman and Chief Executive Officer Jerre Stead. "The products and services offered by Fekete build on existing IHS Energy solutions and provide new opportunity to expand Fekete offerings to a high-growth global energy marketplace."
Fekete is a leading provider of integrated reservoir and production engineering tools and workflow solutions to the oil and natural gas exploration and production industry. Headquartered in Calgary, Alberta, Canada and with an office in Houston, the company's digital solutions help customers find and develop new oil and gas reserves, and optimize production from new and existing assets by processing, analyzing, interpreting and modeling digital subsurface information. Fekete's Harmony™ platform, an easy-to-use and customizable software environment that hosts its Well Performance Analysis applications, is the company's hallmark product.
"Combining Fekete workflow tools with IHS Energy information will create new efficiencies for customers and speed time to decisions in exploration and production. In a very dynamic global energy environment, providing integrated solutions that improve productivity and allow an even greater level of insight in making investment decisions is a great outcome for our customers and for IHS," said IHS President and Chief Operating Officer Scott Key.
Fekete provides solutions to support customers across the oil and gas asset life cycle, from governmental applications to drill, brownfield developments, well production analyses, reserve evaluations and simulation services. Their deep expertise aligns well with IHS significant permitting, drilling, development, production and reservoir databases.
David Dunn, president of Fekete, affirmed: "We're excited about the opportunities this acquisition offers Fekete's clients by supporting seamless connections to data that is integral to a proper well or asset performance analysis. The IHS global reach will expand the delivery of cutting-edge engineering services and products worldwide, and help position key support personnel across critical growth markets supporting the current demand for new tools to handle the frontier of unconventional resources."
Additional information on the acquisition will be provided at IHS Investor Day on April 10, 2013.
IHS (NYS: IHS) is the leading source of information, insight and analytics in critical areas that shape today's business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs more than 6,000 people in 31 countries around the world.
IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2013 IHS Inc. All rights reserved.
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