KSS Fuels to Acquire MPSI, Grow into New Markets
April 14 2011 - 9:50AM
Business Wire
KSS Fuels and Market Planning Solutions Inc. (MPSI) –
world-leading providers of fuel pricing software, network planning
services, data collection and analytics – announced today that KSS
Fuels will acquire MPSI and that the respective organizations will
be merged, effective in late May, subject to shareholder
approval.
In addition to integrating both companies’ industry-leading fuel
pricing software and analytics, the combined organization will
build upon MPSI’s recognized leadership in network planning
capabilities globally to serve petroleum, convenience and grocery
retailers of all sizes and in all segments of the market. It will
also leverage the companies’ collective research, sales and
marketing resources to diversify into new market verticals and
sectors.
“Together, we will provide global reach, unparalleled service
and a comprehensive suite of proven solutions to deliver even
greater value to customers in our existing markets and to serve the
rapidly developing needs of customers in emerging fuels markets,”
said Bob Stein, president and chief executive officer of KSS Fuels,
who will manage the combined entity.
“We will draw upon our strong customer relationships and broad
experience in serving the oil and gas and petroleum retail
industries. Besides providing continuity to current products and
services of both companies, we will also create valuable new
service and business analytic offerings by teaming the best minds
and proven industry experts to maximize the benefits of the math,
science and intellectual capital of both of our organizations. In
doing so, we will create additional opportunities to help our
customers – and our company – grow.”
James Auten, president and chief executive officer of MPSI,
added, “This presents an opportunity to introduce MPSI’s network
planning products and data services to customers with which KSS
Fuels already has relationships, to have the combined entity
develop new consulting and analytic services to bring to market and
to leverage the collective resources of the organization to
accelerate progress in non-petroleum sectors.”
The companies currently serve approximately 500 customers in
more than 80 countries, with little overlap in customer base.
“With its broadened geographic reach, the combined organization
will be in a strong position to provide value-added solutions
across the globe, including Africa, China, India, Japan, Russia,
Southeast Asia, Europe and the Americas,” said Auten.
KSS Fuels will continue to operate under both the KSS Fuels and
MPSI brands for the foreseeable future, and will maintain and
service existing products. Its headquarters will be in Manchester,
UK, with MPSI offices remaining in Tulsa, Okla., and international
locations.
About KSS Fuels
KSS Fuels is the leading global provider of pricing software,
analytics and consulting services to fuel retailers and wholesalers
in the oil & gas, convenience store, grocery and retail
industries. Providing “Knowledge beyond the numbers,” KSS Fuels
helps fuel marketers and distributors implement effective pricing
solutions and increase profitability through the use of knowledge
and numbers. The company’s US headquarters are located in Florham
Park, New Jersey, and its international headquarters are based in
Manchester, United Kingdom. KSS Fuels is 100 percent owned by
Eurovestechplc (LSE: EVT.L). For more information about KSS Fuels,
please visit www.kssfuels.com.
About MPSI
Based in Tulsa, Okla., MPSI is a leading provider of fuels
pricing, site evaluation and network planning solutions. Since
1970, its products and services have helped customers with fuels
price management, price optimization, volume projections, retail
asset management and retail outlet data. MPSI is also a principal
provider of traffic data, demographics and online mapping. For more
information, visit www.mpsifuels.com.
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