The directors of Getech Group plc (Getech) and Exprodat Consulting Limited (Exprodat) are delighted to announce the acquisition of Exprodat by Getech; this acquisition was announced to the Stock Exchange on 14 June, 2016. Exprodat specialises in the provision of geographical information systems (GIS) software and services to the oil and gas industry.
A key element of Getech’s strategy has been to acquire companies which have both a strong strategic fit and the potential for significant synergies as a combined group. The directors of Getech believe that this acquisition satisfies these criteria and is strongly in the interests of the staff and shareholders of both companies.
This acquisition is a further springboard for growth for Getech, bringing opportunities for all staff, enabling a wider range of projects, providing additional opportunities with existing clients and enhancing our ability to address new markets outside oil and gas. Both companies look forward to working together and are very excited by the opportunities this presents to our staff, customers and shareholders.
For further information about the acquisition, please see the stock exchange announcement on our website from 14 June, 2016.
Getech started trading in 1986 within the University of Leeds and has grown from a niche provider of global potential field data and interpretation into a company that provides a broad range of geological products and services. Since 2008, it has been building its flagship New Ventures workflow, Globe, which is the repository of all Getech’s data and interpretation work and is now a globally recognised exploration tool. Getech’s strategy has included both organic growth and acquisitions, and in April 2015, Getech acquired ERCL (Exploration Reservoir Consultants), a consultancy based in Henley-on-Thames. Getech has grown rapidly in recent years and prior to the present acquisition, the group had around 100 staff based in Leeds, Henley-on-Thames and Houston.
Exprodat is based in London, UK and was incorporated in 2002. It is a specialist GIS and software company that currently employs 20 staff and has a network of associates. Exprodat provides an array of GIS support services and data management consultancy to a range of clients; its clients are mainly based in the petroleum industry, but it also has clients in other markets. The quality of its services is marked by the fact that it is an ESRI gold partner in the UK, and this is further enhanced by its ISO 9001 certification.