AMSTERDAM, May 1, 2013 /PRNewswire/ -- Paradigm™ ( www.pdgm.com) announced today that Arshad Matin has been appointed as the company's president and CEO and a member of the Board of Directors. In his new role as CEO, Matin will be responsible for leading the development and execution of the company's strategy. He will be based in Houston, Texas.
"At a time when the oil and gas industry is undergoing transformation led by global demand and technology advancements, new opportunities lie ahead for exploration and production breakthroughs," said Matin. "Paradigm is using a scientific approach to advance these innovations and support new upstream discoveries by our customers. I look forward to leading the company through this next phase of growth."
Founder and former CEO of Paradigm, Eldad Weiss, will continue his long time association with the company as non-executive chairman of the Board of Directors. "I am excited to be working alongside Arshad on the Board. We will continue to focus on strengthening Paradigm's position as the leading provider of upstream software solutions for the global oil and gas industry," said Weiss.Apax Partners ( www.apax.com), a leading global private equity investment firm and majority owner of Paradigm, managed the selection process. Apax acquired Paradigm in 2012 for approximately $1 billion in an all-cash transaction. "Arshad brings extensive experience with a track record of value creation through his vision, innovation and disciplined management approach in both public and private company context," said Jason Wright, senior partner Apax. "After a thorough search for the next Paradigm leader, Arshad was our clear choice to lead Paradigm and take the company to the next level." Matin has significant experience leading strategy and growth for global organizations. Previously, he served as executive vice president at IHS (NYSE: IHS) where he managed all business lines accounting for over $1.5 billion in revenues. He also led Seismic Micro-Technology (acquired by IHS) as president and CEO where he implemented rapid growth strategy while transforming a family-owned business into a professional organization. As president and COO of BindView Corporation (acquired by Symantec), Matin created significant shareholder value by leading the turnaround of the company. He also led an enterprise security business at Symantec Corporation. Matin holds an MBA in Finance from the University of Pennsylvania – The Wharton School, an MSE degree in Computer Engineering from The University of Texas at Austin and a BE degree in Electrical Engineering from Regional Engineering College in Bhopal, India. For more information, visit www.pdgm.com, or e-mail email@example.com. About Paradigm ™ Paradigm ( www.pdgm.com) is a leading developer of software solutions to the global oil and gas industry. Paradigm technology and workflows provide its customers with deeper insight into the subsurface by combining leading-edge science, high-performance desktop and cluster computing, and scalable data management, delivering highly accurate results and productivity without compromise. The following are trademarks or registered trademarks of Paradigm Ltd. or of its subsidiaries (collectively, "Paradigm"): Paradigm™, Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners.
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