Tuesday, June 19, 2018

Genstar Capital Acquires Drillinginfo

San Francisco-based Genstar Capital said this morning that it has acquired Drillinginfo, whih develops software for the oil and gas industry. Financial terms of the deal were not announced. According to Genstar Capital, it will become the new majority shareholder of the business, with Insight Venture Partners retaining a "significant" minority stake. Insight Venture Partners has been an investor in Drillinginfo since 2012. Drillininfo devleops a cloud-bsed platform used for decision support by exploration and production companies, oilfield services companies, electrical power companies, and others. Jeff Hughes is CEO & President of Drillinginfo, which is based in Austin, Texas.