Day: July 16, 2021

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ServiceMax Acquires LiquidFrameworks to Advance Field Service Management Solutions In the Energy Sector

Brings purpose-built field service management solution and domain expertise to meet unique challenges in oil and gas, industrial and environmental service

PLEASANTON, Calif., July 15, 2021 /PRNewswire/ — ServiceMax, the leader in asset-centric field service management, today announced it has signed a definitive agreement to acquire LiquidFrameworks, a leading mobile field operations management solutions company specializing in the energy industry, from Luminate Capital Partners, a private equity firm investing in growth and enterprise software companies. The acquisition enables ServiceMax to expand its field service management solutions to meet the unique challenges of the energy sector.

As the market continues to pressure the oil and gas industry to become more capital efficient, oilfield service providers must transform their legacy field operations management processes to digital systems. Whether working long rotations on an offshore platform with limited connectivity or turnarounds in a refinery, Field Technicians in this industry are responsible for delivering service to the customer along with operating new digital systems aimed at maintaining assets, improving productivity, and growing revenue. The acquisition will better position ServiceMax to meet the demand for digital service execution in this industry while expanding ServiceMax’s product portfolio and go-to-market channels.

“ServiceMax is committed to doing all we can to help companies keep critical assets – and the world – running. Strengthening our customer offerings in the energy sector is core to that commitment,” said Neil Barua, CEO, ServiceMax. “Combining ServiceMax’s modern field service platform with LiquidFrameworks’ industry expertise better equips us to provide oil and gas companies with the tools they need to ensure consistent, reliable service, and maximize asset performance.”

“ServiceMax’s history of innovation has been transforming field service organizations for over a decade,” said Travis Parigi, Founder and CEO, LiquidFrameworks. “The combination of LiquidFrameworks field-first, energy-specific offering, with ServiceMax’s asset-centric field service suite will be unparalleled in the market. We are committed to helping companies realize the promise of digital transformation.”

“We are proud of LiquidFrameworks’ growth and development over the course of our investment partnership, as the company delivered a differentiated, mission-critical SaaS offering that helped customers in the oil, gas, and industrial services industry react quickly and efficiently navigate the digital transformation journey,” said Hollie Haynes, Managing Partner at Luminate. “We are thrilled to see the company continue to support its customers through this combination with ServiceMax, further extending its competitive differentiation across the field service management landscape,” noted Mark Pierce, an Operating Partner at Luminate who has served as Chairman of LiquidFrameworks since the Luminate investment.

AGC Partners is acting as financial advisor and Kirkland & Ellis LLP as legal advisor to LiquidFrameworks and Luminate.  Centerview Partners is acting as financial advisor and Ropes & Gray LLP is acting as legal advisor to ServiceMax.

About ServiceMax
ServiceMax’s mission is to help customers keep the world running with asset-centric field service management software. As the recognized leader in this space, ServiceMax’s mobile apps and cloud-based software provide a complete view of assets to field service teams. By optimizing field service operations, customers across all industries can better manage the complexities of service, support faster growth, and run more profitable, outcome-centric businesses. For more information, visit www.servicemax.com.

About LiquidFrameworks
LiquidFrameworks is a leading provider of cloud-based, mobile field operations management solutions serving the energy, industrial and environmental services industries. LiquidFrameworks’ FieldFX® solution provides companies with numerous benefits, including increased and accelerated revenue capture, increased cash flow, improved contract compliance, increased invoice accuracy and improved customer responsiveness. LiquidFrameworks is based in Houston, Texas. To join the conversation, follow @LquidFrameworks on Twitter.

About Luminate Capital
Luminate Capital Partners is a private equity firm investing in growth software companies. Luminate partners with management teams to provide capital to drive strategy, growth, and operational improvements. Luminate’s portfolio of market leaders has also included AMTdirect, AutoQuotes, Axonify, Compliance & Risks, Comply365, Conexiom, Fintech, LiquidFrameworks, MSI, Oversight Systems, PDI, Quantivate, StarCompliance, and Thought Industries. For more information, visit https://www.luminatecapital.com.

Media Contacts

For ServiceMax:
ServiceMax@wisecollective.co

For LiquidFrameworks:
Emily Rhodes
713-552-9250
erhodes@liquidframeworks.com

For Luminate:
Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
chris@tofallipr.com

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Teen Chosen to Fly Into Space With Bezos

Oliver Daemen, 18, received exciting news Thursday from the Blue Origin flight team: He will be flying into space on July 20.

Daemen, who will attend Utrecht University in the Netherlands this fall, will be the youngest person to reach space when he departs on Blue Origin’s New Shepard flight. A press release from his family said that Daemen has “been dreaming about this all [his] life.”

Blue Origin announced Thursday that an originally scheduled passenger would be unable to take the flight to the edge of space because of scheduling conflicts. The anonymous winner of the company’s public auction spent $28 million for the seat next to Bezos. Until then, Daemen was scheduled to travel on Blue Origin’s second flight after unsuccessfully bidding on the auction.

Daemen’s father, Joes Daemen, is the CEO of an investment firm in the Netherlands, and Blue Origin declined to disclose what he paid for the flight. The person who purchased the $28 million ticket remains anonymous.

Donations to nonprofits

The company stated that $19 million of the auction’s proceeds would be donated to 19 space-specific nonprofit organizations, each receiving $1 million. The chosen associations include AstraFemina, a group of women in science and technology dedicated to providing young girls with role models, and the Brook Owens Fellowship, a mentorship program for undergraduate female students interested in space exploration.

Also making history is Mary Wallace “Wally” Funk, 82, who will become the oldest person to fly into space. Bezos announced on Instagram that Funk would be an “honored guest” for the first Blue Origin flight.

Funk participated in the privately funded Mercury 13 program in 1961 that trained women to go to space. The 13 women received the same preparation as NASA astronauts but were ultimately refused employment because of their gender. Funk was the youngest to graduate from the course and reportedly was told that she “completed the work faster than any of the guys.”

The three passengers will be joined by Bezos’ brother, Mark, on Blue Origin’s inaugural flight.

Source: Voice Of America

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APEC Leaders Vow to Accelerate Access to COVID Vaccines

WASHINGTON – World leaders said in a statement issued after a virtual meeting of the Asia-Pacific trade group APEC that extensive COVID-19 immunization is a global public good and accelerating access to vaccines is essential to overcoming the health emergency.

In a statement posted Friday on the APEC website after a virtual meeting hosted by New Zealand, the leaders of the 21-member group vowed to redouble efforts to expand vaccine manufacture and supply and said they would continue to support economies for as long as necessary.

U.S. President Joe Biden, Russia’s Vladimir Putin, China’s Xi Jinping and other world leaders took part in the meeting seeking collective actions to navigate the COVID-19 pandemic and its economic impacts.

Source: Voice Of America