PricewaterhouseCoopers unit QByte Services is to acquire the Petro-Lab data retrieval and analysis software solution from Sterne Stackhouse (SSI). Built on SSI’s Labrador technology, Petro-Lab provides query, analysis and mapping from both public and proprietary data sources. The deal gives QByte an exclusive, royalty-bearing license to develop, market and sell Petro-Lab to the Canadian oil and gas market for five years.
Huggard
QByte President Peter Huggard said, “Petro-Lab’s ease of use and flexibility demonstrates the value in self-service data retrieval software. Petro-Lab provides a single point of access to self-service business and operations data.”
Stoneham
PwC’s Michael Stoneham added “This acquisition illustrates our ongoing commitment to the oil and gas industry. We see great potential for Labrador in other industries to fulfill data search and retrieval needs.” SSI intends now to focus distributing Petro-Lab to the ‘untapped’ US petroleum market.
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