DTN Energy Closes PetroDEX Acquisition
OMAHA, Neb. -- DTN Energy, a leader in data communications and eBusiness solutions for the downstream petroleum marketing industry, acquired the PetroDEX petroleum exchange from GE Global eXchange Services.
Terms of the deal were not disclosed.
PetroDEX has been providing services to the petroleum industry for more than 27 years. The company's applications currently serve more than 300 companies, including most major U.S. refining companies.
DTN Energy's purchase of the entire PetroDEX suite of applications includes: PETROEX, TABS, RECON and Total Reconciliation. These allow petroleum partners to collect, monitor and manage inventory and receivables information, achieve reduced reconciliation costs, and improve back-office efficiencies.
"Integrating PetroDEX with our current product solutions brings the downstream petroleum industry closer than ever to having a true end-to-end integrated data solution," said Erik Betz, chief operating officer of DTN Energy. "DTN PetroDex will provide a comprehensive set of tools to streamline terminal and product inventory data management, increase product distribution efficiency, and reduce transaction costs."