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Viking Venture invests in secure document collaboration

Viking Venture invests in secure document collaboration

Viking Venture invests in the Norwegian company Xait AS. The company has developed XaitPorter, a document collaboration and production tool used by major corporations globally. Xait AS was founded by CEO Owe Lie-Bjelland and CFO Arnt Jørund Andreassen in 2000 and has grown to be a major player in the market for production of complex documents. The company has implemented a cloud based offering with a subscription based business model. XaitPorter is used by corporations when producing complex documents such as tenders, proposals, reports, governing documents and project documentation. The software supports both the production and formatting dimension as well as the project management, review and approval dimension of document production. – We are impressed by the quality of the team, the product and the customers they have attracted. With more than 30% growth and 90% recurring revenue, this company is ideally positioned for further international expansion, commented, Eivind Bergsmyr partner in Viking Venture and chairman of Xait. Xait has its headquarters in Sandnes, Norway and its US operation in Austin, Texas. Group CEO Owe Lie-Bjelland has recently relocated to Austin to drive further growth in the huge American market. – Through years of commitment and innovation, we have demonstrated that forward-looking companies can be much more efficient and productive if they modernize their document collaboration techniques by paying attention to their processes and their collaboration platform. A knowledgeable and experienced partner such as Viking Venture is vital for Xait to continue our international growth, says Owe Lie-Bjelland, Group CEO of Xait. Viking Venture owns 43% of Xait after the investment and is adding experience and best practice knowledge...
ExproSoft announces acquisition of Miriam

ExproSoft announces acquisition of Miriam

ExproSoft, a supplier of well integrity and reliability software to the oil & gas industry, has acquired Miriam, a supplier of RAM analysis software. The acquisition strengthens and complements ExproSoft’s software portfolio, and further increases the capabilities of ExproSoft to aid oil & gas operators with increasing well uptime and reducing intervention and maintenance cost. Miriam’s RAM Studio software is a tool for conducting reliability, availability, and maintainability (RAM) analysis. The software helps the oil & gas operators achieve high regularity of oil and gas fields and processing facilities. RAM Studio is a cloud-based platform that enables powerful integration with other solutions. ExproSoft’s WellMaster software suite is a globally recognized solution for well integrity management and well performance analytics. With more than 40,000 well years of equipment history the solution helps operators identify critical equipment, failures, risk, and downtime drivers. Combined with online monitoring and testing the solution helps in reducing downtime and cost. Integrating Miriam RAM Studio with WellMaster will enable prediction of failures, downtime, and intervention cost for new and existing wells. This is aligned with ExproSoft’s strategy of further improving well prediction and optimization, and introduce risk-based maintenance planning. “Miriam has proven to be a next step in RAM analysis. Delivered as a cloud-based service Miriam has demonstrated that it is the most agile solution for RAM analysis in the market. ExproSoft is pleased to be able to offer the two products, Miriam and WellMaster, to the market, as well as the combined analytic capabilities that will change the way the oil and gas industry look at maintenance optimization throughout the complete value chain,” says Odd Are...
Magnus Willumsen joins Viking Venture

Magnus Willumsen joins Viking Venture

Viking Venture is strengthening the team and is happy to announce that Magnus Willumsen (32) joins Viking Venture as Investment Associate. Magnus holds a Master of Science in Industrial Economics and Technology Management from NTNU in Trondheim and Stuart Business School in Chicago. Magnus has recent Corporate Finance and Investment banking experience from Fondsfinans in Oslo and has previously worked as management consultant with...