DMGT completes acquisition of Petrotranz Inc.
CALGARY, AB, Canada (November 1st, 2016) - Since 2013, investment from the Daily Mail General Trust (DMGT), a family-run public company listed on the London Stock Exchange, has provided capital for the expansion of the Petrotranz business. The resulting growth has driven the decision for DMGT to complete the purchase of all outstanding shares effective October 1, 2016.
With this action, the founding partners have transferred full operational control to the current management team who will continue to expand the business. The expansion will occur through the reinvestment of capital into all 4 flagship products and solutions (COTS, LTS, PDX, PQM) as well as several new products and solutions currently being developed for all stakeholders in the Western Canadian Sedimentary Basin.
Petrotranz Inc. is a technology company that builds, deploys and manages secure, web-based industry solutions that automate and improve manual or inefficient processes in the Energy Industry. The commercial applications developed by Petrotranz are the Crude Oil Transportation System (COTS) and the Liquids Transportation System (LTS) which are utilized to manage transportation and logistical information related to the 3 month crude oil and liquids lifecycle. Petrotranz launched the Petrotranz Data Exchange (PDX) in January 2014. PDX is a secure, web-based data exchange that makes volumetric and financial information available in an electronic format between relevant stakeholders (Terminal and Pipeline Operators, Shipper Marketers and Producer Operators).The Petrotranz Technology Platform is used by over 1100 companies managing over 97% of crude oil and liquids volumes in the Western Canadian Sedimentary Basin.
Petrotranz also provides volumetric and financial management industry services and actively serves as the COLC Administrative Manager and the ITC Invoicing Contractor.
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