Tobin International acquires Innovative Business Solutions (December 1998)

Tobin International Inc. has acquiredInnovation Business Solutions, Inc. (IBS) a provider of land and lease management softwarefor the oil and gas industry. IBS’ cooperation with Price-Waterhouse-Coopers and SAPis to be maintained.

IBS has offices in Denver and Houston and will operate as "Tobin IBS". Charles Ivey, formerly CEO of PI/Dwights and now President and CEO of Tobin stated, "The combination of IBS and Tobin allows us to integrate digital map data with land and lease information for customers. The use of digital lease data accurately registered to Tobin’s industry-leading SuperBase Landnet, coupled with the IBS land management system, provides a real advantage to companies wanting to operate more efficiently. This is mission-critical for customers, particularly during times when cost reduction is so important". IBS is party to several important service agreements, including continuing relationships with Price-Waterhouse-Coopers and SAP, which provides major integration projects for several customers.

SAP Oil and Gas Solution

Ivey continued, "The capability Tobin brings in digital mapping and digital lease information will add value to these relationships." Michael Olszewski, Managing Partner of the Price-Waterhouse-Coopers North American Oil and Gas Practice stated, "Price-Waterhouse-Coopers and IBS have built a strong strategic relationship over the last several years, including our co-ownership of Domain Plus. The combination of Tobin with IBS further promotes the Price-Waterhouse-Coopers vision of broadening the availability of the most functional and integrated client server solutions for the upstream industry. It also certainly complements Price-Waterhouse-Coopers's recent alliance with SAP as sole co-developer of the new SAP Oil and Gas solution for E&P". Financing for the acquisition of IBS was provided to Tobin by Energy Spectrum Partners LP and Prudential Capital Group, a division of the Prudential Insurance Company of America, both located in Dallas. More from Bill Crow at Tobin on 713.662.9130.

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