Palantir Solutions and Caesar Systems/PetroVR form partnership

Palantir Economic Solutions and Caesar Systems LLC announced on Wednesday that they have entered into a definitive merger agreement under which Palantir and PetroVR will combine in a stock-for-stock merger transaction.
The firms said the combined company will be called Palantir Solutions Inc and it will bring together two “highly complementary platforms” to create the largest independent software company in the oil and gas planning space in terms of delivery capability, development capability and revenue. 
They said the company will be strongly positioned to provide integrated, dynamic planning solutions, in addition to having greater global reach and financial strength with increased working capital, balance sheet strength, financial flexibility and free cash flow to comfortably fund future growth.
Ken Blott , president and chief executive of PetroVR, said: “The combination of Palantir and PetroVR creates the best, most diversified oil and gas planning software company in the world. Together, the merged company will have the finest business and field development planning software designed for use by national oil companies, majors, super-majors and independent oil and gas companies operating unconventional, conventional, mature and deep water assets."
Jason Ambrose , managing director and CEO of Palantir, added: "This also a combination of two companies, management and staff that have a shared vision and talented teams who are dedicated to serving customers and providing software that meets the planning needs of multi-functional asset teams, corporate planning groups and executive decision makers. We look forward to welcoming PetroVR employees who will join the existing Palantir teams as we move forward as one company. In building on our existing strengths, the new Palantir Solutions will be very well positioned for future growth and continued value creation for our shareholders and our clients."