MISTRAS Group – a ‘one source’ global provider of technology-enabled asset protection solutions used to maximise the uptime and safety of critical energy, industrial, and public infrastructure – has announced the acquisition of New Century Software, a provider of pipeline integrity management software and services to energy transportation companies.
Founded in 1994, New Century is headquartered in Fort Collins, Colorado, USA. New Century provides software solutions, data management expertise, and extensive pipeline experience to enable a global network of customers in the oil and gas industry to manage pipeline integrity, meet regulatory compliance, and maximise safety and reliability.
New Century’s pipeline integrity management software suite synergistically complements the facility data management capabilities offered by MISTRAS’ Plant Condition Management Software (PCMS), both of which have served the global oil and gas marketplace for decades. New Century’s strategic alignment with recent MISTRAS acquisition Onstream Pipeline Inspection will enable deep integration of inline inspection (ILI) big data with real-time risk analytics and business intelligence (BI) to provide capabilities for supporting pipeline integrity. This acquisition aligns with MISTRAS’ mission of delivering value-added, integrated, smart data solutions to its customers. Between PCMS, New Century’s software, Onstream’s advanced pipeline integrity capabilities, and MISTRAS’ robust non-destructive testing (NDT) inspection toolbox, the Company is enabling seamless interoperability by integrating its asset integrity portfolio to provide midstream customers with a comprehensive, data-driven pipeline protection solution.
“We’re excited to add the New Century team and their unique and advanced solutions to our pipeline integrity portfolio, which we’ve identified as one of the pillars of our growth strategy,” said Dennis Bertolotti, MISTRAS Group President and Chief Executive Officer (CEO). “With this acquisition, we’re streamlining our customers’ paths towards safe operations and regulatory compliance, by providing integrated services, inspection equipment, and software from beginning to end of the midstream value chain.”
Financial terms of the transaction were not disclosed. The Company funded the acquisition with cash on hand.
Read the article online at: https://www.worldpipelines.com/business-news/11092019/mistras-group-acquires-pipeline-data-management-provider/