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Russian Seismic Data Processing Company Seismotech Sells 25% Stake to Yandex

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Posted by: admin @ 10:30 [22. 06. 12]

The leading Russian search engine company Yandex has invested $1 million for a 25% stake in Seismotech, a geophysical seismic data processing company, the company announced today. Yandex intends to provide Seismotech with its parallel computing technologies and data centers for seismic data processing.

Founded in 2010, Seismotech develops algorithmic solutions and software for geophysical data processing and offers 2d and 3d seismic data processing and interpreting services. Its flagship product is the seismic processing software Prime3D. The customers of Seismotech include oil companies Statoil, ONGC, and LukBelOil.

In 2010, Intel Capital invested $2 million in Rock Flow Dynamics, a Russian hydrocarbon reservoir simulation software vendor.

In 2012, the largest Russian venture capital investments included $75 million in Avito.ru by Baring Vostok and Accel, $38 million in KupiVIP.ru by Intel Capital, $5 million in HomeMe by Mangrove Capital and $10 million in Oktogo.ru by VTB Capital.

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