Petris is to merge with ASP specialist GeoNet. Jim Pritchett (Petris CEO) will be President and CEO of the as yet un-named new company and Pat Herbert (Geonet Chairman and CEO) will be COO. The merger will combine Petris’ application integration and data management with GeoNet’s ASP offering.
While the initial GeoNet business model of ASP access to a variety of third-party applications remains, the company is increasingly turning to the provision of ASP services from within the corporate firewall. Geo-Point of Presence (GeoPOP) offers companies rationalized thin-client access to licensed or proprietary software. The link-up will extend this to the major vendor suites, via the Petris Winds Enterprise integration layer. Jim Pritchett told PDM that the merger would be accompanied by a new cash injection from all existing shareholders.
GeoNet claims around 200 ‘steady users’ including TotalFinaElf (TFE) and Marathon. Geoscientists with TFE working in Pau, France are connected to servers in Houston, Texas by a 2 megabit per second fiber link.
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