July 19th, 2017
Oil and gas technology company Petrosys is pleased to announce its acquisition by Vela Corporation, a subsidiary of Canadian public company Constellation Software Inc. (TSE:CSU).
The backing of Vela opens up a new phase of growth for Petrosys, allowing stronger penetration of new markets, faster software development and more innovative R&D. It also provides access to a broad pool of management expertise and software development skills.
Vela’s approach of allowing acquired companies to operate as stand-alone entities will ensure that Petrosys remains the respected, trusted, industry-leading provider for mapping, surface modeling and data management software for the oil and gas industry.
“We are excited to be able to join the Vela group and about the growth opportunities and longevity this will bring to the Petrosys brand, products and customers in the oil and gas market.” said Petrosys’ founder, Volker Hirsinger. “It will provide us with opportunities to thrive, whilst being able to enhance the Petrosys brand values of industry-leading technology and service that clients have come to trust.” Dr. Hirsinger will continue in his role as VP Americas, which will now allow him the opportunity to engage more closely with Petrosys clients and partners in the Americas.
“We are excited to add the Petrosys brand, product suite and knowledge base to the Vela group. This provides us a flagship brand and identity in the Oil and Gas market. By combining Petrosys domain knowledge, with the presence and the strength of the Vela group, we are excited about organic growth opportunities and this is the first of many acquisitions in the oil and gas market space,” said Damian McKay, Vice President at Vela Software.
Petrosys clients can be confident that the move will strengthen Petrosys’ position in the marketplace, whilst being assured that services, particularly Petrosys’ trusted industry-leading support, will remain unchanged.
Petrosys is the industry-leader in mapping, surface modeling and data management software solutions for petroleum E&P – delivering direct connectivity with the most popular exploration, production and GIS data sources. The Petrosys® software suite produces high quality maps and surface models. It manages seismic, well, geoscience and other specialised data used in the search for oil and gas at over 300 sites around the world.
Vela Software acquires, manages, and builds mission-critical vertical market software businesses that are located throughout the world. It works with its companies to improve operations, grow through organic initiatives, and acquire businesses that can strengthen market positioning. Vela is an operating group of Constellation Software Inc. (TSX: CSU), a public company listed on the Toronto Stock Exchange with 6 operating groups that provide software for over 80 vertical markets. Constellation Software Inc. has consolidated revenues exceeding US$2 billion with greater than 11,000 employees located in over 250 offices worldwide.
For further information please email email@example.com or refer to www.petrosys.com.au.