Prometheus Group Acquires Pipeline Group, Inc.
Raleigh, NC: Prometheus Group, an industry leading provider of software solutions that enable best practices for maintenance and operations in asset-intensive industries, announced today that it has acquired Pipeline Group, Inc., a Santa Ana, California-based company that focuses on solutions that allow asset-intensive organizations to better plan, schedule, and execute shutdowns/turnarounds and capital projects.
“Pipeline offers a best-in-class solution that integrates disparate applications and data sources to create a single work management system for shutdown/turnarounds,” said Eric Huang, founder and CEO of Prometheus Group. “This acquisition builds upon our strategy to provide a completely unified planning, scheduling and work execution solution and deliver hard dollar savings for our customers. With the addition of Pipeline’s Maxavera® and Syntempo® products to our existing suite, we are excited to offer our customers a fully integrated solution engineered to manage even the largest and most complex shutdowns and turnarounds.”
“For many companies, managing a large project solely inside an ERP system is simply not an option. By integrating Pipeline’s and Prometheus’ technology, we will empower our customers to enjoy the best of both worlds, with all projects handled by a single end-to-end solution that leverages the ERP system as the “single source” of truth”, added Jeff Kinard, Prometheus Group’s VP of Professional Services. “For customers that have a multi-ERP landscape we will now be able to provide the same high-quality user experience and training regardless of the customer’s ERP environment. It is a great way to deliver a consistent user experience while also unifying the customer’s backend systems.”
The combined company will use the Prometheus Group name and will be led by Mr. Huang. Charlie Sundling, current CEO of Pipeline, will continue to serve the company as General Manager – Shutdowns, Turnarounds & Outage Solutions. Sundling commented, “We are excited to become part of Prometheus Group where we will be able to accelerate the development of our advanced shutdown/turnaround solutions and leverage the platform benefits of a unified offering.”
Raju Patel, current Chief Technical Officer and VP of Engineering at Pipeline will also continue to serve the combined company as VP of Services – Shutdowns, Turnarounds & Outages. Patel added, “Working with the Prometheus team for the past few months has highlighted not only the perfect complementary of our two businesses, but also the power behind our combined solution. In advance of this announcement, we were able to present a unified solution to a leading global oil & gas company that was extremely well received.”
Pipeline was advised by Corum Group and Stradling Yocca Carlson & Rauth, P.C. Prometheus Group was advised by Paul Hastings LLP.
About Prometheus Group
Prometheus Group is a leading global provider of comprehensive and intuitive enterprise asset management software solutions specializing in improving the efficiency and effectiveness of maintenance planning, scheduling, and execution. Developed jointly with end users, Prometheus software enhances the customer experience with intuitive functionality, graphical visualization, and simple processes, enabling the company’s customers to increase productivity, reduce costs and improve reporting. For more information, please visit www.prometheusgroup.com.
Pipeline provides solutions that help companies optimize their Enterprise Asset Management business processes with specialized products and services that enable organizations to improve critical planning, scheduling, and work execution processes related to maintenance, capital projects, and programs. Pipeline provides integrations and solutions that augment the capabilities of leading EAM systems and tools, including SAP PM, IBM Maximo, Oracle EAM, Ventyx Passport and Oracle Primavera.