Halliburton Acquires Petris Technology Inc.
Fairmount Partners represented Petris Technology, a leading supplier of data management and integration solutions to the global energy industry, as their exclusive financial advisor in completing the transaction below. Petris Technology was a portfolio company of Kayne Anderson Capital, a private equity firm based in Los Angeles.
Official Press Release:
HOUSTON – (August 2, 2012) – Landmark Software and Services, a Halliburton (NYSE: HAL) business line, announced that it has acquired Petris Technology, a leading supplier of data-management and integration solutions to the global energy industry.
The acquisition positions Halliburton with a unique capability within the upstream oil and gas industry: Halliburton can now deliver to its customers unrivalled access to their reservoir and well technical data, empowering its customers’ decision-making processes by providing them with mission-critical data, where and when they need it.
“By capturing all their scientific data within one environment, we are empowering our customers to make safer, faster and more accurate operational and economic decisions about their reservoirs,” said Gene Minnich, vice president of Landmark Software and Services.
The acquisition comprises all of Petris’ integrated solutions, including the PetrisWINDS products, such as Recall Applications, Recall Data Management, DataVera, Enterprise, DrillNET, and Operations Management Suite – which will become available to Halliburton’s clients as a part of the DecisionSpace® portfolio. The DecisionSpace environment has been designed to drive collaboration and efficient decision-making by ensuring these multiple sources of highly technical data are readily accessible across a customer’s full range of upstream business operations.
Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With more than 70,000 employees in approximately 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company’s website at http://www.halliburton.com.
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ABOUT FAIRMOUNT PARTNERS
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount’s key focus areas include: Technology, IT & Business Services, Healthcare and Industrial & Consumer. Fairmount has completed transactions throughout North and South America, Europe and Asia. For more information, visit: www.fairmountpartners.com.
Petris is a leading supplier of practical data management solutions and geosciences applications to the global energy industry. Founded in 1994 and with over 500 clients throughout the world, Petris leverages its insight and knowledge to design technology that integrates information from diverse data stores including managerial, seismic, borehole, production, drilling, and pipeline to enable continually better decision making and application transparency. www.Petris.com
Principals of Fairmount Partners acted as advisors to Petris Technology in this transaction.
Contact: Allen Born