|By PR Newswire||
|April 15, 2014 02:00 AM EDT||
HOUSTON, April 15, 2014 /PRNewswire/ -- Wood Group has acquired Cape Software ("Cape"), a Texas provider of simulation software and services for operator training and logic validation for SCADA and DCS industrial control systems used by the oil & gas and other process-based industries. Cape will become part of the MSi Kenny Products business within Wood Group Kenny. Cape's revenue for the year to December 31, 2013 was around $5 million.
Cape's VP Link® software product, used to simulate process responses on control networks and for interactive operator training, complements MSi Kenny's more comprehensive Virtuoso® simulation modelling technology, which is used for pipelines and processes. The companies' previous collaborations have resulted in the development and implementation of integrated operator training systems for upstream offshore oil & gas facilities, enabling critical unit operations to be rigorously modelled.
Michael Mai, a member of the Wood Group Kenny leadership team and president of MSi Kenny, said: "The acquisition of Cape expands our product and service portfolio for customers worldwide and is an important part of our technology-led growth strategy. VP Link broadens our existing operator training simulator to include a full-featured, hardware-based solution, so operators can train on the same type of equipment they will operate in the control room.
"Cape also provides us with an avenue to bring our simulation technology to other industries for cost-efficient process optimization and monitoring. As process safety continues to be a core concern across industries we intend to expand on Cape's proven track record in the SCADA/DCS and safety systems verification market through Wood Group's global footprint. Cape's technology and culture are well aligned with MSi Kenny's as demonstrated by our innovative technology collaboration on previous simulator projects for major oil & gas operators."
Notes to Editors
Wood Group is an international energy services company with around $7bn sales, employing around 46,000 people worldwide and operating in 50 countries. The Group has three businesses – Wood Group Engineering, Wood Group PSN and Wood Group GTS – providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power generation industries worldwide. www.woodgroup.com
Wood Group Kenny is the world's largest independent specialist subsea, pipeline and riser engineering and management contractor, employing more than 2,800 people worldwide, part of international energy services company, Wood Group. www.woodgroupkenny.com
MSi Kenny, a Wood Group Kenny business, is a specialized multiphase consultancy experienced in the application of advanced technology for the design and optimal operation of oil & gas production, pipeline and processing facilities.
Cape Software provides software and services for operator training simulators and logic validation for supervisory control and data acquisition (SCADA) and distributed control (DCS) systems. Cape was founded in 1990 and is located in The Woodlands, Texas.
SOURCE Wood Group
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