Why did Petris sell?
We were at a point in our development where we needed to expand to support growth. About a year ago, the board began to look at alternatives and started talking to Landmark who shared the same vision and who had a complementary product line.
What was most attractive to Landmark—your software? The customer base?
The installed base—in particular Recall—now a component of our Petris Winds Enterprise borehole data management solution. This has seen a lot of success—especially in larger tenders. Also we have been historical partners as Recall is a part of the Petrobank solution and Landmark is a reseller for our Zeh printing solution.
One area where we definitely add to the Landmark solution line-up is with Datavera, our data quality solution—this is particularly important with the huge growth of data volumes and master data complexity.
Why sell now?
As I said, exploding data volumes are mandating more comprehensive solutions and this at a time where Finder and other industry standard data management solutions are reaching their end-of-life. Petris and Landmark getting together will address these issues. Combining our services groups will offer significantly better capacity over a wider range of geographies.
The latest press release on the Landmark website dates back to January 2011. Did Halliburton take its eye off the ball in the software space?
I can’t comment on the Landmark website. But what I can say is that there is a lot going on as we work to combine our road maps. We are meeting with customers and so far have had a very positive reaction to the merger. The next few years will be a very exciting time for data management.
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