MBO moves Earth for Scottish seismic software specialist
Register writes story for blatant headline joke opportunity -- shock
Concept Software, Scotland’s groundbreaking seismic software company, is being bought out by the management in a £36 million deal. The MBO is funded partly by £12 million of equity from the London-based venture capitalists, 3i, and The Royal Bank of Scotland is providing £17.5 million of senior debt and mezzanine facilities. Concept serves the oil, gas and mineral sectors, and its’ seismic systems are said to be hugely cost-effective compared to traditional test drilling, which has additional ecological implications. The business was owned by a group of private investors, all of whom are reinvesting in the new Concept. ® Click for more stories
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