CHICAGO – Feb. 9, 2023 – SLB (SLB) has completed its acquisition of First Analysis portfolio company Gyrodata, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction will incorporate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business.
The acquisition by SLB will enable Gyrodata to advance its global technology offering and customer value proposition. Integrating Gyrodata’s unique sensor assemblies with SLB’s latest technological innovations will enhance drilling trajectory accuracy, increase data acquisition speed, aid in drilling automation and improve decision making processes, resulting in greater overall directional drilling efficiency.
“The combination of these two companies will foster greater collaboration between our respective technology platforms, which will accrue significant benefits to our customers around the world. We are excited about the next phase of our journey with SLB,” said Gyrodata President and CEO Robert Trainer. “The First Analysis team played a key role in getting us here. Its expertise and dedication over the years have been invaluable.”
“We are grateful for the opportunity to have worked with Robert and the Gyrodata team and wish them success in this next chapter for the company,” said First Analysis founder and Chairman Oliver Nicklin.
About First Analysis
First Analysis is a leading venture capital investor focused on B2B technology businesses. We have one of the longest records in venture capital, having invested more than $825 million across multiple highly diversified funds over four decades. First Analysis invests mainly in North America with a focus on our sectors of expertise, including cybersecurity, e-commerce optimization, enterprise productivity, future of work, go-to-market tech, healthcare IT, infrastructure tech, Internet of Things, learning tech, pharma IT and vertical SaaS. We help established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Our flexible approach targets investing $3-10 million as lead investor or as a syndicate partner bringing valuable perspective.
Gyrodata is a leading service provider to the global energy industry with deep expertise in gyroscopic surveying, wellbore placement, and wellbore characterization technologies. Gyrodata’s unique products and services enable its clients to maximize hydrocarbon recovery and optimize assets’ life cycle cost. For more information, visit www.gyrodata.com.
SLB (SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, SLB works each day to decarbonize oil and gas and develop scalable new energy technologies to accelerate the energy transition. Find out more at www.slb.com.
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First Analysis portfolio company Gyrodata acquired by SLB – Feb 2023