2011-05-30-2011-05-02-2011-05-02

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
0MM
Description

Bought software company.

Denver-based P2 Energy Solutions has acquired WellPoint Systems Inc., Calgary, (Toronto Venture: WPS) for an undisclosed price.

WellPoint energy product families include Bolo financial management software, Ideass international oil and gas-venture management system, Energy Financial Management and several midstream solutions.

P2 Energy is now the largest independent energy technology company. The consolidated company offers a comprehensive range of financial, production, and operations software, land management tools, midstream marketing solutions and outsourcing services to more than 1,200 clients in 65 countries.

P2 president and chief executive Bret Bolin says, "Adding the WellPoint solutions to our portfolio marks yet another exciting step for our company and further establishes P2 as a global market leader in the upstream energy industry. I am very excited about the future of P2 and look forward to combining the two amazing organizations into the largest and leading energy solution provider."