Redback, Herfo Finans and Møkster Investering-backed Geoteric Holding completed the acquisition of Geoteric(FFA) from Energy Ventures III.

Redback, Herfo Finans, and Møkster Investering-backed Geoteric Holding, a newly established Norwegian holding company, completed the acquisition of Geoteric(FFA), an international technology company, from Energy Ventures III, a private equity firm. Financial terms were not disclosed. "We see significant growth potential for Geoteric and its unique AI Seismic Interpretation software, and expect that with its track record of product innovation, it will continue to lead the industry," Ådne Grødem, Herfo Finans AS CEO.