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Petrosys announces acquisition by Vela

Friday, July 21, 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.

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.

Associated Companies
» Petrosys
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