Wednesday, December 12, 2012

Drilling Info Acquires Assets From Wellstorm Development

Austin-based Drilling Info, the venture backed provider of software-as-a-service for the oil and gas business, said today that it has acquired the assets of Wellstorm Development, Inc., an information management and development company in Dripping Springs. Financial terms of the buy were not disclosed. Drilling Info said that the technology acquired in the buy will help it bridge its solutions with the data behind it's clients' firewalls. Wellstorm CEO Hugh Winkler becomes director of research at Drilling Info. Drilling Info raised a big, $165M investment round in March from Insight Venture Partners, Battery Ventures, and Eastern Advisors Private Fund.