Sphera Solutions Acquires Petrotechnics and Provides a Complete End-to-End Operational Risk Solution
CHICAGO, Jan. 8, 2019 /PRNewswire/ -- Sphera, the largest global provider of Integrated Risk Management software and information services with a focus on Operational Risk, Environmental Health & Safety and Product Stewardship, has announced the acquisition of Petrotechnics, a leading global provider of operational risk software for hazardous industries.
Petrotechnics is based in Aberdeen, Scotland. Established in 1989, Petrotechnics has helped keep people safe in hazardous industries, such as Oil & Gas, Chemical and Rail, among others.
Petrotechnics' solutions help companies visualize and connect their operations, maintenance and planning processes with frontline risk mitigation software that provides Safe System to Work and Electronic Permit to Work functionality. The company's software solutions are known for their exceptional data visualization, configurable workflows, easy-to-use interface and real-time analysis and insights. With decades of collective experience, Petrotechnics also offers professional services from its expert thought leaders.
"Sphera's acquisition of Petrotechnics expands our base of Operational Risk solutions through applications digitizing and visualizing risks at the operational level with real-time data from Industrial Internet of Things devices," said Paul Marushka, Sphera's president and CEO. "This acquisition builds upon our SpheraCloud product in extending our Integrated Risk Management solution from risk identification to risk mitigation."
"With Sphera's longstanding expertise and total commitment to Operational Excellence, Petrotechnics' decision to become a part of the Sphera suite of products and services was an easy one," said Phil Murray, Petrotechnics' CEO. "The combination of our software with Sphera's solutions will help both our customers and Sphera's clients enhance their ability to mitigate risks across their global operations."
Terms of the deal were not disclosed.
Sphera is the largest global provider of Integrated Risk Management software and information services with a focus on Operational Risk, Environmental Health & Safety and Product Stewardship. For more than 30 years, Sphera has advanced Operational Excellence by serving more than 3,000 customers and over 1 million individual users across 70-plus countries to create a safer, more sustainable and productive world.
Based in Aberdeen, Scotland, Petrotechnics provides software and expert consultancy services that help people throughout the organization to make better informed decisions and achieve Operational Excellence.