P2 Energy Solutions to Acquire ISS Group Limited06/03/2013
P2 Energy Solutions extends its leadership in upstream oil and gas software to provide a more comprehensive and integrated production solution.
On June 3rd, 2013, P2 Energy Solutions announced its intention to acquire ISS Group Limited (“ISS”). ISS’s leading BabelFish™ product suite and production operations expertise will round out P2’s broad range of products and services to provide the most comprehensive and integrated production solution for the upstream oil and gas market. The BabelFish™ product suite is focused on the production operations domain, with complex event processing, notifications, data analysis and real time visualizations among BabelFish’s™ core strengths.
P2’s intended acquisition of ISS will enable the convergence of business and production operations systems for the upstream oil and gas industry. As customers strive to maximize the operational efficiency of their producing assets, more effective integration of engineering, operations, and business functions is required. The BabelFish™ product suite in combination with P2’s industry-leading applications for finance, accounting, land management and operations will provide exploration and production companies with a single supplier for the solutions they need to run their businesses and maximize profitability. In addition, ISS works with multinational mining, metals and minerals customers and will bring this domain knowledge and experience to P2.
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