October 24, 2014 7:50 AM ET

Software

Company Overview of Verdande Technology AS

Company Overview

Verdande Technology AS develops solutions for oil and gas, financial services, and healthcare markets in Norway and internationally. It offers DrillEdge, a case-based reasoning (CBR) artificial intelligence system that identifies and prevents drilling problems by linking current drilling parameters to past experience and solutions; and technical, engineering, and training services to oil and gas operators. The company also provides CBR technology solutions that enable customers in the financial markets, including the investment banking industry to capture, interpret, and recognize patterns in real-time and static data to help predict future events, mitigate risk, and ensure regulatory compli...

Stiklestadveien 1

Trondheim,  7041

Norway

Founded in 2004

Phone:

47 92 25 82 00

Key Executives for Verdande Technology AS

Chief Executive Officer
Chief Financial Officer and Chief Compliance Officer
Chief Technology Officer
Vice President of Europe
Director of Operations - Western Hemisphere
Compensation as of Fiscal Year 2014.

Verdande Technology AS Key Developments

Verdande Technology Unveils DrillEdge Mud Motor Failure Capability

Verdande Technology announced the launch of DrillEdge mud motor failure capability. Operators will benefit from the hindsight, insight, and foresight needed to increase drilling efficiency and deliver wells consistently within prescribed times while minimizing downhole risks. DrillEdge uses predictive analytics such as Case-Based Reasoning (CBR) to identify key indicators of potential mud motor failure and to take action before drilling operations are impacted or costly tool damage occurs. DrillEdge monitors for early symptoms of damage sustained ahead of an outright failure by relating Mechanical Specific Energy (MSE), a well-established downhole drilling performance efficiency metric, to accumulated downhole tool stress. When looking at prevailing NPT in factory drilling operations to successfully automate and optimize that type of drilling, found that the continuous efficiency created required that drilling optimization solutions in software be developed to assist in cost control and performance improvement.

IEX Selects VTEdge Platform from Verdande Technology

IEX has selected the VTEdge platform from Verdande Technology for operational surveillance of trading activity. Based on the principle that similar problems have similar solutions, CBR provides IEX with predictive analysis of potentially business and market impacting events, such as outages, before they happen, to make better real-time, evidence-based decisions. Verdande Technology's CBR-driven VTEdge platform identifies, captures, and analyzes unstructured data patterns in real-time, using past events to proactively predict future problems and manage unexpected situations by modeling "normal" behavior and running complex systems analysis and anomaly detection against that model to identify and prevent abnormal behavior. IEX will use Verdande Analytics as an early warning system across critical trading platforms to predict and prevent infrastructure glitches related to switches, routers, and network links as well as surveil orders, fill data, and market data.

Verdande Technology AS Announces Partnership with ITRS limited to Provide Early Warning System for Financial Services Firms

Verdande Technology AS announced its partnership with ITRS limited. Verdande Technology's CBR-driven Edge Platform has been integrated with ITRS Group's Geneos application performance monitoring (APM) solution to act as an early warning system for potential trading outages, system failures or other latency-impacting events.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
April 9, 2014
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