PRESS RELEASE: The acquisition brings together Seequent's Leapfrog 3D geological modelling software suite with Geosoft's subsurface geoscience and exploration data-driven technology - to create a subsurface offering for the mining, civil engineering, energy and environmental sectors.

Shaun Maloney, chief executive of Seequent, said: "The acquisition allows two strong geoscience brands, Leapfrog and Geosoft, to join forces to offer a greater range of solutions for our customers around the globe. Together, we are better equipped to deliver on our commitment to enable better decisions about some of the world's biggest earth environment and energy challenges."

Tim Dobush, CEO of Geosoft, commented: "There is exciting synergy between our two companies, and together we can deliver new and enhanced value to our global customers. We share the same vision and passion for making a difference, and empowering knowledge from geoscience data is at the core of what we do. By bringing our people and powerful technology assets together under Seequent, we're able to help customers solve their ever-larger geoscientific challenges across all disciplines and industries."

Geosoft's Oasis montaj technology platform is used in the geosciences field to support advanced analysis and understanding of the Earth's subsurface and subsea environments. The company's Target for ArcGIS software is a geological application for Esri, delivering essential workflows for geoscience and GIS professionals working on the ArcGIS platform. With its release of VOXI Earth Modelling, Geosoft introduced the use of geocomputing and 3D geophysical inversion modelling in the cloud.

By bringing together the Geosoft and Leapfrog brands, Seequent said it now has a leading market position in subsurface geoscience and modelling software solutions with offices in 20 locations and approaching 400 staff around the world serving customers in over 100 countries.

Maloney added: "We'll continue our focus on mining and minerals, energy, civil and environmental industries. Geosoft's capability will allow us to add to all of these areas and provide valuable new expertise to other areas."

Seequent's global headquarters will remain in Christchurch and the company will continue to drive R&D from New Zealand, Canada and South Africa. Geosoft's global headquarters will remain in Toronto, Canada.