Sekal, the drilling automation software company, has been acquired by Sumitomo Corporation, the Japanese conglomerate enterprise.
Alpha Corporate Finance has acted as financial advisor to Equinor Technology Ventures, Saudi Aramco Energy Ventures, Såkorninvest, NORCE and the other shareholders in Sekal in the transaction.
Sekal is a Norwegian provider of drilling automation software. Building on 20+ years of R&D development at NORCE, Sekal has successfully developed and commercialised a suite of drilling automation software, enabling oil and gas operators and drilling contractors to reduce non-productive time and significantly reduce the cost of drilling and oil and gas recovery. Under the wings of Sumitomo, Sekal will continue on the path to become and solidify its position as leader in the drilling automation software space.