SHARE

KBC Advanced Technologies has announced that it has acquired FEESA, a UK-based provider of specialized software and services to the upstream oil and gas industry.

The enterprise value of  the deal was £10 million in cash, plus one million KBC shares, for a total consideration of £11.2 million ($19.1 million).

FEESA specializes in flow assurance and integrated production modeling.

KBC will use the acquisition of FEESA to continue their expansion into the upstream market.