Palantir and PetroVR/Caesar Systems combine

PetroVR and PlanningSpace planning support platforms to merge.

Palantir Solutions and PetroVR (formerly Caesar Systems) have entered into a definitive merger agreement under which Palantir and PetroVR are to combine in a ‘stock-for-stock’ transaction. The new company is to be called Palantir Solutions. The companies’ software platforms, PetroVR and Palantir’s PlanningSpace will together form an ‘industry-leading’ oil and gas planning software application with a global delivery and support network from nine offices in eight countries. The deal also sees PetroVR joining Palantir in the Halliburton-Landmark-Palantir alliance that delivers petroleum investment lifecycle management solutions.

Palantir MD and CEO Jason Ambrose said, ‘Our combined teams are dedicated to serving customers and providing software that meets the planning needs of multi-functional asset teams, corporate planning groups and executive decision makers. PetroVR employees will join the Palantir team and the combined company is positioned for future growth and continued value creation for our shareholders and our clients.’

Advisors on the deal were (for Palantir) One-to-One, Paladin, Allan Tiller Law, Outside GC CA and Quayle Munro. Integrity Advisors, Baker Williams Matthiesen and PKF Texas advised PetroVR. More from Palantir.

This article originally appeared in Oil IT Journal 2017 Issue # 4.

For more information or to comment on this topic email here.