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GM-SYS Software, Talent and Technology a Close Fit With Geosoft’s goal of empowering earth exploration through accelerated knowledge development
June 6, 2007 — Toronto, Ontario – Geosoft Inc., a leading provider of software and solutions for the geosciences, today announced its intention to acquire the software and all associated intellectual property assets of Northwest Geophysical Associates Inc. (NGA), based in Corvallis, Oregon. This includes NGA’s line of GM-SYS and GM-SYS 3D gravity and magnetic modeling software as well as its Depth to Basement, Isostatic Residual, SEG-Y Reader and CVTGMS technology. The proposed transaction is in line with Geosoft’s vision of creating a natural data experience that empowers earth exploration.
Geosoft and NGA have partnered, since 1989, to meet the needs of explorers in the oil and gas industry through delivery of integrated and industry standard mapping, modeling and interpretation solutions. Their solutions optimize visualization of gravity and magnetic data, and its integration with seismic data, to help determine locations of potential oil and gas reservoirs.
“Our long standing relationship with NGA has been based on a shared goal of helping oil and gas explorers improve their potential for successful discoveries through more effective data exploration and knowledge development,” said Tim Dobush, Geosoft CEO. “The proposed acquisition is a natural progression of Geosoft’s strong partnership with NGA. It provides an opportunity to advance our integrated solution, simplifying and streamlining software development and our interactions with customers in the Oil and Gas and Geoscience markets.”
The transaction is expected to be completed in the second quarter of 2007 and will result in NGA software being incorporated into Geosoft’s line of desktop mapping and processing software. NGA software developers will become part of Geosoft’s Research and Development group.
NGA Principal, Gerry Connard will continue to work closely with Geosoft in a consulting role. “I remain personally and professionally committed to supporting the success of NGA’s software customers,” said Connard, “and I’m really looking forward to continuing my contribution as part of the Geosoft team.”
Both Geosoft and NGA expect a smooth integration that provides customers with uninterrupted services and a seamless transition. NGA will continue to operate as a separate company, providing geophysical services, once the acquisition is finalized.
About Geosoft – www.geosoft.com
Geosoft Inc. is a leading provider of software and solutions for the geosciences. The company ranks among the top 150 software companies in Canada, providing software and services in over 100 countries around the world. Geosoft software and solutions enable simple and natural access to data; efficient and collaborative knowledge development; and sharing with others. We harness the power of technology, service and workflow innovation to accelerate knowledge development for successful earth exploration and discovery.
About Northwest Geophysical Associates – www.nga.com
Northwest Geophysical Associates (NGA) designs and sells high quality geophysical gravity and magnetic software. Founded in 1981 by a group of geophysicists, geologists, and computer scientists, NGA has grown to provide state-of-the-art gravity and magnetic geophysical software to businesses, government agencies and academic organizations across industries and around the globe. All NGA products are fully integrated with Geosoft’s Oasis montaj.