Risk management software company Sphera acquires Petrotechnics

Risk management software company Sphera acquires Petrotechnics
Published: 9 January 2019 - 7 a.m.
By: Carla Sertin

Sphera, the largest global provider of integrated risk management software and information services with a focus on operational risk, environmental health & safety and product stewardship, has announced the acquisition of Petrotechnics, a leading global provider of operational risk software for hazardous industries.

Petrotechnics is based in Aberdeen, Scotland. Established in 1989, Petrotechnics has helped keep people safe in hazardous industries including oil and gas.

Petrotechnics’ solutions help companies visualise and connect their operations, maintenance and planning processes with frontline risk mitigation software that provides 'Safe System to Work' and 'Electronic Permit to Work' functionality. The company’s software solutions are known for their data visualisation, configurable workflows, easy-to-use interface and real-time analysis and insights. With decades of collective experience, Petrotechnics also offers professional services from its expert thought leaders.

“Sphera’s acquisition of Petrotechnics expands our base of operational risk solutions through applications digitising and visualising risks at the operational level with real-time data from industrial internet of things devices,” said Paul Marushka, Sphera’s president and CEO. “This acquisition builds upon our SpheraCloud product in extending our integrated risk management solution from risk identification to risk mitigation.”

“Petrotechnics' decision to become a part of the Sphera suite of products and services was an easy one,” said Phil Murray, Petrotechnics’ CEO. “The combination of our software with Sphera’s solutions, will help both our customers and Sphera’s clients enhance their ability to mitigate risks across their global operations.”

Terms of the deal were not disclosed.

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