Tendeka sells industrial monitoring business of Sensornet Ltd to Nova Metrix LLC
August 31, 2011
Tendeka, the provider of completions and reservoir monitoring products and services to the upstream oil and gas industry, today announced the sale of the industrial monitoring business of its London-based fibre optic monitoring subsidiary, Sensornet Ltd. Tendeka will retain exclusive access to Sensornet products within the upstream market segment.
Sensornet, which is now fully industrial and downstream following the integration of upstream fibre optic monitoring into Tendeka, incorporates systems for power, environmental, industrial and fire monitoring.
Tendeka’s reservoir monitoring portfolio incorporates digital and wireless monitoring solutions for water injection, oil production, gas lift optimisation in both permanent completions and intervention campaigns.
Tendeka CEO Gary Smart said the sale of Sensornet’s industrial business to Nova Metrix was a logical step as it permits Tendeka to focus on the significant growth of its core upstream business. Nova Metrix, which specialises in asset monitoring products and services, is ideally placed to take Sensornet’s industrial business to the next phase of growth.
Nova Metrix CEO Jim Barbookles said: “With this addition to the Nova Metrix portfolio, we’re able to further enhance our range of asset monitoring products and services by strengthening and consolidating common technologies with existing portfolio companies such as Roctest Ltd and Durham Geo Enterprises, Inc.