Petrofac’s Training Services division has acquired integrated competency management software business SkillsXP, from Dutch company Tritanium for an initial cash consideration of €1 million ($1.42 million).
Further cash consideration of up to €0.5 million ($0.71 million) is payable to Tritanium over three years, subject to the Skills XP achieving certain agreed performance targets.
Petrofac has acquired the trade, software, Intellectual Property, and the 13 staff who develop and support the SkillsXP software.
SkillsXP was established by Tritanium in 2000 and is focused primarily on the oil & gas industry, where there are complex competency management requirements.
Paul Groves, managing director of Petrofac Training Services said: “The acquisition of SkillsXP, and importantly, the team that developed and now manages the software, will enhance Training Services’ existing capabilities and support Petrofac to reach its aim of becoming the global oil & gas industry’s leading services provider”.
The Skills XP team will continue to be based in the Netherlands and Houston led by the current management as part of Petrofac Training Services.
The acquisition complements Petrofac’s existing offering. Petrofac and SkillsXP formed a relationship over several years and developed a turnkey solution through which Petrofac’s existing customers manage their internal process, from learning delivery through training management to competence management and assurance.
