Emerson is expanding its technology capabilities by acquiring Paradigm, an oil and gas software company based in Houston.

Paradigm has more than 500 employees worldwide. The acquisition is slated to close within 60 days.

“Paradigm broadens our leadership in the upstream oil and gas market by adding a range of subsurface software tools that complement our growing Automation Solutions portfolio," Emerson Chairman and CEO David Farr said in a statement.

As part of a two-year-long portfolio repositioning, Ferguson-based Emerson announced plans in September to sell its ClosetMaid home organization and storage system business to Griffon Corp. for $260 million. Earlier this month, Emerson acquired GeoFields Inc., a company that provides software services to pipeline operators in the oil and gas industry. Both the ClosetMaid and GeoFields deals have finalized, according to an Emerson spokeswoman.

Lisa Brown • 314-340-8127 @lisabrownstl on Twitter lbrown@post-dispatch.com

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