M&A Deal Summary

Enverus Acquires Cortex Business Solutions

On December 19, 2018, Enverus acquired information technology company Cortex Business Solutions for 46M CAD

Acquisition Highlights
  • This is Enverus’ 2nd transaction in the Information Technology sector.
  • This is Enverus’ 0th largest (disclosed) transaction.
  • This is Enverus’ 1st transaction in Canada.
  • This is Enverus’ 1st transaction in Alberta.

M&A Deal Summary
Date 2018-12-19
Target Cortex Business Solutions
Sector Information Technology
Buyer(s) Enverus
Deal Type Add-on Acquisition
Deal Value 46M CAD
Advisor(s) Cormark Securities, Inc. (Financial)
DLA Piper (Legal)

Target

Cortex Business Solutions

Calgary, Alberta, Canada
website
Cortex Business Solutions, Inc. is a network-as-a-service that enables electronic invoicing. Cortex Business Solutions was founded in 1999 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Enverus

Austin, Texas, United States

website

Category Company
Founded 1999
Sector Information Services
DESCRIPTION

Enverus is a data, software, and insights company focused on the energy industry. Through its SaaS platform, Enverus provides innovative technologies and predictive/prescriptive analytics, empowering customers to navigate the future. Enverus’ solutions deliver value across upstream, midstream and downstream sectors, enabling the industry to be more collaborative, efficient and competitive. Enverus was founded in 1999 and is based in Austin, Texas.

DEAL STATS #
Overall 10 of 15
Sector (Information Technology) 2 of 3
Type (Add-on Acquisition) 9 of 14
State (Alberta) 1 of 2
Country (Canada) 1 of 2
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-18 Oildex

Denver, Colorado, United States

Oildex offers premier cloud-based oil and gas accounting software with workflow automation and electronic document exchange designed specifically for the oil and gas industry. More than 1,100 operators, 74,000 registered service providers, dozens of financial institutions and millions of mineral rights owners use the Oildex Network to seamlessly and securely collaborate with their business partners, automate critical business processes, eliminate the high cost and errors associated with the handling of paper, and obtain access to key data to make more informed business decisions. Oildex is headquartered in Denver and has offices in Calgary; Houston; Austin; Fayetteville, Arkansas, and Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-15 MineralSoft

Austin, Texas, United States

MineralSoft is a technology developer and service provider focused on developing solutions to manage oil & gas investments. MineralSoft was founded in 2015 and is based in Austin, Texas.

Buy -
Mergr

Product

Company

Legal