Caterpillar Oil & Gas has completed its acquisition of Denver-based M2M Data Corp. M2M (a.k.a. machine to machine) offers a cloud-based service for remote operation and maintenance of industrial equipment. In its seventeen years of operations, M2M has build on its gas compression origins to have a significant footprint in the upstream.
Caterpillar Oil & Gas’ director Craig Lange said, ‘This acquisition expands our Cat Connect digital services technology platform. Combining our capabilities will enable us to deliver high-level operational support solutions.’
Cat Connect brings industrial internet of things connectivity to oil country power solutions and includes end user analytical tools for remote monitoring of equipment performance. M2M CTO Trevor Harper added, ‘Our suite of hardware, firmware, software and services provides the level of customization needed to address our customers’ business challenges.’
MVP Capital advised M2M on the transaction. More from Caterpillar.
Comment: Cat Connect brings yet another ‘platform’ to the digital oilfield, alongside GE, SAP and NOV to name but three!
This article originally appeared in Oil IT Journal 2016 Issue # 7.
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