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Computer Modelling Group Ltd. (CMG) has announced the acquisition of Bluware-Headwave Ventures Inc., a software and services company specializing in cloud and interactive deep learning solutions for subsurface decision-making including seismic interpretation. Bluware’s proprietary VDS (Volume Data Storage) data format compresses raw and interpreted seismic data sets, making them adaptable and scalable. The total consideration paid by CMG for the Acquisition is US$22 million, with a potential earn out provision of up to US$8 million if certain revenue thresholds related to key contracts of Bluware are met.
