Computer Modelling adds cloud power

Article Excerpt

COMPUTER MODELLING GROUP, $10.90, is a buy. The company (Toronto symbol CMG; TSINetwork Rating: Extra Risk) (www.cmgl.ca; Shares outstanding: 82.2 million; Market cap: $895.4 million; Dividend yield: 1.8%) is now acquiring Sharp Reflections GmbH for $37 million. Sharp is headquartered in Germany, with operations in the U.S. It aims to offer high-performance computing in the cloud to effectively handle massive seismic datasets using advanced visualization, interactivity, and scientific analysis. Sharp’s customer base is global and consists of major oil and gas companies. It has annual revenue of about $14.7 million. Computer Modelling is a buy. buy…