# Trinidad Drilling acquires RigMinder for US$30 million

Trinidad Drilling Ltd. has acquired RigMinder Operating LLC for US$30 million, comprising US$25 million in cash and US$5 million in common shares, with additional contingent payments of up to US$10 million and an earnout. RigMinder provides drilling technology including directional drilling guidance and electronic data recording systems.

- Type: Acquisition
- Announced: 2017-08-28
- Where: United States
- Value: $30.0M
- Status: announced
- Products: directional drilling guidance system, electronic data recorder, downhole tool integration
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Trinidad Drilling](https://endata.com/companies/26577.md) (acquirer)
- [RigMinder Operating](https://endata.com/companies/26578.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2017/08/28/1100959/0/en/Trinidad-Drilling-Announces-Strategic-Acquisition-of-RigMinder-a-Global-Provider-of-Rig-Technology.html), 2017-08-28: "RigMinder will allow Trinidad to provide its customers with a fully integrated rig performance solution by integrating drilling software and data collection along with Trinidad's proprietary control system (IRIS)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.