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WellPoint Acquires Bolo Systems Software Co

Wednesday, August 22, 2007 5:00:00 AM PDT | VentureDeal Staff

LAKEWOOD, CO -- Oil exploration software company Bolo Systems was acquired by Calgary, Canada-based WellPoint Systems (TSX: WPS), for $22.8 million in a combination of cash and stock.

Bolo makes software that enables oil and gas exploration companies to administer their accounting, land/lease management, production, document management and regulatory reporting solutions.

WellPoint intends to use the acquisition to help it further penetrate the U.S. market for energy industry software applications.

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