Computer Modelling acquires SeisWare International

Executive Summary

• Computer Modelling Group Ltd. (CMG) has acquired SeisWare International Inc., a Calgary-based software company specializing in geoscience interpretation and field development solutions.
• The transaction involves a total purchase price of approximately $6.6 million (U.S.), subject to customary closing adjustments.
• SeisWare, which generated $3.4 million (U.S.) in recurring software revenue in the 12 months ended March 31, 2025, will integrate into CMG’s seismic solutions group, with its team of over 40 employees joining the organization.

Key Details

• Transaction Structure: Acquisition of SeisWare International Inc. by Computer Modelling Group Ltd.
• Purchase Price: Estimated total of $6.6 million (U.S.), subject to customary closing adjustments.
• Target Financials: SeisWare reported unaudited revenue of approximately $3.4 million (U.S.) for the 12 months ended March 31, 2025, consisting entirely of recurring software revenue.
• Target Capabilities: SeisWare develops geoscience interpretation and field development software, offering tools for seismic interpretation, attribute analysis, geological mapping, and 3-D well design.
• Management Changes:
  • Herman Nieuwoudt (previously President of Bluware) has been promoted to Executive Vice-President and President, Seismic Solutions, overseeing all of CMG's seismic technologies and joining the executive leadership team.
  • Murray Brack, former CEO of SeisWare, will join CMG as General Manager, SeisWare, reporting to Mr. Nieuwoudt.
• Integration: SeisWare’s team of over 40 employees, located in Calgary and Houston, will join the seismic solutions group.

Notable Quotes

• Pramod Jain, CEO of Computer Modelling: "SeisWare reflects our disciplined approach in expanding our capabilities by acquiring high-quality software solutions... SeisWare is a platform acquisition for CMG which further builds out our seismic interpretation solutions and underscores our commitment to investing in businesses with the potential to deliver strong returns and long-term value."
• Murray Brack, CEO of SeisWare: "Joining CMG is a natural next step for us, grounded in our shared Canadian roots and a mutual dedication to exceptional customer support. What makes it truly exciting is how well our values and vision align around our commitment to developing specialized, technical software that meets the evolving needs of the energy industry."