BV Investment Partners-backed GeoLogic Systems has acquired SubsurfaceIO, a digital technology provider for the oil and gas industry. The deal comes as the need for data analytics in the energy sector is increasing.
SubsurfaceIO’s technology is designed to eliminate the requirement for data handling and loading processes. When integrated with GeoLogic’s software, users will be able to visualize and analyze information.
“Our customers are facing increasing pressure to improve returns, effectiveness, and speed to market with fewer people who are being asked to do more. Increased digitization can facilitate these trends by improving decision making across the enterprise,” says GeoLogic CEO David Hood.