MISTRAS Group Acquires New Century Software, a Leading Pipeline Data Management Provider
September 04 2019 - 4:01PM
MISTRAS Group (NYSE: MG) – a leading, “one source” global provider
of technology-enabled asset protection solutions used to maximize
the uptime and safety of critical energy, industrial, and public
infrastructure – is pleased to announce the acquisition of New
Century Software, a leading provider of pipeline integrity
management software and services to energy transportation
companies.
Founded in 1994, New Century is headquartered in Fort Collins,
Colorado. 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 maximize 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 & 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 unmatched
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
the most comprehensive, data-driven pipeline protection solution
ever made available to the industry.
“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.
About MISTRAS Group, Inc.
MISTRAS is a leading “one source” global provider of
technology-enabled asset protection solutions used to maximize the
uptime and safety of critical energy, industrial, and public
infrastructure. MISTRAS combines our industry-leading services,
products, and technologies to provide a unique, custom-tailored
solution for each customer’s individual asset protection need.
Our asset protection portfolio includes field and laboratory
inspections & testing; engineering services for asset integrity
management; maintenance and light mechanical services; online
asset-condition monitoring services; and manufacturing of
inspection and monitoring equipment. Data from these solutions is
centralized in MISTRAS’ world-class inspection data management
software – PCMS – to provide our clients with integrated,
comprehensive asset protection from a single provider.
For more information, please visit the company's website at
www.mistrasgroup.com or contact Nestor S. Makarigakis, Group
Director, Marketing Communications at marcom@mistrasgroup.com.
Media Contact:Nestor S. Makarigakis, Group
Director of Marketing
Communicationsmarcom@mistrasgroup.com1(609)716-4000
Mistras (NYSE:MG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mistras (NYSE:MG)
Historical Stock Chart
From Jul 2023 to Jul 2024