In a bid to free up additional management time that would result in extending improved services to its clients, PLS Inc., recently revealed in an announcement that it has sold its premier databases, research, and events business to a Texas-based data analytics services provider, Drillinginfo. The company, predominantly known across oil and gas industry for its market intelligence and advisory services, would reportedly retain its middle-market advisory practice.
As per reliable sources, PLS Inc. noted in a statement that the insights obtained from analyzing and advising M&A deals across capital markets have enabled the firm to find progressive methods to initiate, handle, and conclude transactions on behalf of its clients in the global oil and gas market.
For the record, the Houston-headquartered PLS Inc. provides vital information that assists more than 2,200 corporate clients and 12,500 customers globally to better manage business portfolios and facilitate profitable transactions. The firm’s databases, scouting reports, research, listing service, and apps are known across the industry for tracking deals for sale, oilfield services, midstream development, capital markets, exploration activity, and M&A metrics.
Speaking on the latest divestment bid, the Founder and Managing Director of PLS Inc., Ronyld Wise was quoted stating that the deal guarantees favorable outcomes for all the stakeholders including clients, Drillinginfo, and PLS. He further added that Drillinginfo is a well-suited partner to take the technology and content built by PLS and combine it with their existing market solutions, analytics, and international scouting to form a one-stop, robust platform that would further offer better advice to clients.
Reportedly, Wise further appreciated and thanked all the partners, employees, and clients for extending their support over the years that enabled PLS to build a unique and successful business in the oil and gas industry. Sources reveal that the firm would redouble its efforts on consolidating and expanding its transaction and advisory solutions after the conclusion of the deal.
