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Halliburton Buys Software Firm

Houston-based oil giant Halliburton said today that it has acquired a software firm, The Permedia Research Group, which develops petroleum systems modeling software and services. Financial terms of the acquisition were not disclosed. According to Halliburton, Permedia develops tools and expertise for oil and gas companies, used to better assess exploration risk and mange cost of deepwater, sub-salt, and unconventional resource plays. Permedia becomes part of Halliburton's Landmark Software and Services business.