01:28 PM EDT, 07/31/2025 (MT Newswires) -- (Adds analyst comments and updates shares)

Computer Modelling Group ( CMDXF ) on Thursday said it acquired SeisWare International, a software company specializing in geoscience solutions, for US$6.6 million.

SeisWare develops geoscience interpretation and field development software to support subsurface exploration and development projects.

Computer Modelling Group ( CMDXF ) also said that Herman Nieuwoudt, who joined the company as president of Bluware in November 2024, was promoted to executive vice president and president, Seismic Solutions. SeisWare's team of over 40 employees will join this seismic solutions group and SeisWare's Chief Executive Officer Murray Brack will join Computer Modelling Group ( CMDXF ) as general manager, SeisWare.

"SeisWare reflects our disciplined approach in expanding our capabilities by acquiring high-quality software solutions," said chief executive Pramod Jain. "The company has earned a strong reputation and loyal customer base in Canada by delivering powerful, integrated geoscience tools alongside responsive and highly technical customer support."

National Bank of Canada on Thursday maintained its outperform rating and C$10.00 price target on the shares of Computer Modelling Group ( CMDXF ).

"Post-closing, we expect CMG to have a cash balance of ~$45 mln with no debt," said analyst John Shao. "If anything, we see the company on an accelerated journey towards building a comprehensive software platform through continuous M&As."

The company's shares were last seen up $0.24 to $7.94 on the Toronto Stock Exchange.

Price: 7.91, Change: +0.21, Percent Change: +2.73