Vela Software acquires Coreworx, a business providing engineering document management, interface management and contract management solutions for oil and gas, engineering and construction industries.
Houston, TX, USA – October 1, 2018 – Vela Software acquires Coreworx, a business providing engineering document management, interface management and contract management solutions for oil and gas, engineering and construction industries.
Coreworx Inc. (“Coreworx”) is pleased to announce its acquisition by Vela, an operating group of Canadian public company Constellation Software Inc. (TSE:CSU).
The backing of Vela enables a new phase of growth for Coreworx through access to a broad pool of management expertise and software development skills.
Vela’s permanent-ownership model, and industry-specific expertise will ensure that Coreworx remains a trusted, industry-leading provider of information management solutions to capital projects within the oil and gas, infrastructure, power, mining, and engineered solutions industries.
“We are excited to join the Vela group and about the opportunities this will bring to the Coreworx brand, products, and customers,” said Coreworx CEO, John Gillberry. “Vela and Constellation bring operating expertise from their hundreds of software businesses, plus financial strength and global infrastructure. Paired with the talents and industry experience of the Coreworx organization, this acquisition sets Coreworx on a course for great success in the future. Coreworx clients can be confident that this move will strengthen the Coreworx position in the marketplace, whilst being assured that services, particularly Coreworx trusted support, will remain unchanged.”
“We are very pleased to bring Coreworx into the Vela family. Coreworx offers a well-established solution suite that is used by many of the leading names in capital project execution,” said Gabor Czegledy, Senior Vice President, Portfolio Manager at Vela Software. “We look forward to combining Coreworx’s industry knowledge and expertise with the presence and strength of the Vela group in order to provide customers with industry-leading capital project solutions for the long-term.”
About Vela
Vela Software is a global provider of software solutions to a number of vertical industries. As an Operating Group of Constellation, Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries to better serve their customers. We help companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position.
About Coreworx
Coreworx is a software and services company that provides integrated information management software solutions, including Engineering Document Management Systems, Interface Management, and Contract Management for the world’s engineering and construction projects. Coreworx solutions service a portfolio of projects valued at over $1 trillion across 40 countries, on more than 2,000 projects with 100,000+ users. Coreworx software enables EPCs, owner-operators, and contractors to automate best practices, mitigate business risk, and improve performance to budget throughout the entire project life cycle. Coreworx has development and sales offices in Houston, Calgary, and Kitchener.
