Bentley Systems is acquiring French seismic interpretation software company Eliis for an undisclosed price.
New York Stock Exchange-listed Bentley says 19-year-old Eliis’ technology and expertise would enrich subsidiary Seequent’s seismic data interpretation capabilities and “further advance subsurface understanding”.
Eliis, based near Montpellier, is said to have a global team of more than 100 geoscientists, technical specialists and researchers at its offices in France, USA, Australia, Malaysia, Brazil and United Arab Emirates. They will swell Seequent’s headcount to more than 950.
Eliis describes its PaleoScan product as “next generation seismic interpretation software” that can significantly reduce data and model interpretation time cycles to improve geological understanding.
Bentley said Eliis’ patented Relative Geological Time technology and AI-assisted interpretation capabilities complemented Seequent’s subsurface portfolio including its Leapfrog implicit modelling tool.
“Lower cost seismic data acquisition and AI are expanding the adoption of seismic methods beyond oil and gas,” Seequent CEO Graham Grant said.
“We see huge opportunity in energy, mining, as well as groundwater management, the recovery of minerals from brines and carbon storage.
“For example, seismic interpretation helps mining companies reduce geological uncertainty and discover deeper mineral deposits compared to traditional methods.
“Eliis will strengthen Seequent’s ability to help our users understand the underground, reduce uncertainty and risk, and make better, faster and more confident decisions.”
Dechert and Simmons & Simmons were legal advisers to Bentley and Seequent in the transaction.
