Engineering software company Seequent, part of Pennsylvania-based Bentley Systems, acquired Colorado geostatistical software developer Advanced Resources and Risk Technology (AR2Tech) in December.
The acquisition gives Seequent state-of-the-art geostatistics algorithms, technology and IP for complex geospatial problem solving, which the company said will complement its geological modeling solutions and workflows.
“AR2Tech represents a new generation of geostatistics and spatial data analysis solutions for mining, environmental sciences, and energy,” Seequent said of the deal, the financial details of which were not made available.
“Its state-of-the-art, high-performance algorithms and workflows for cloud and desktop enable users to create and optimize a diverse set of models, even with millions of cells, without performance bottlenecks … [and its] algorithm library can be applied to a wide range of geostatistical modeling and data science methods, supporting functions that are data-centric and rely on machine learning.”
Seequent said the newly added solutions can work as standalone offerings, of they can be integrated into other software, including its own Leapfrog 3D geological modeling solutions.
“AR2Tech’s technology stack and world-leading expertise in geostatistics, geomodeling and spatial data integration strengthen Seequent’s capabilities in these areas,” Graham Grant, chief executive officer of Seequent, said.
“The acquisition will help accelerate our development of new geostatistics solutions and create seamless end-to-end workflows with Seequent’s advanced modeling solutions. We’re excited to make this investment for our mining, environmental, civil, and energy users to take geomodeling to the next level.”