Cegal´s three main areas of business are cloud, software and consultancy. Our cloud-based solutions provide high performance IT systems and customized software solutions to more than 11,000 end users. We support more than 1000 applications, and our support center offers a single point of contact for all IT related questions. We have five datacenters and more than 120 O&G customers. In 2017, cloud including cloud services represented 67.8% of our revenues. Long term recurring cloud revenue represents approximately 75% of total cloud revenues.
Cegal develops and sells software to extend, improve and speed up workflows within geology, geophysics,mreservoir engineering and data management. In addition, we offer development of high quality customized software solutions. In 2017, software products and services represented 20.5% of revenues.
Cegal offers highly experienced on-site consultants and expert geomodelers. In 2017, consulting represented 4.6v% of our revenues. In addition add-on sales of hardware and other software to IT cloud customers represented 7.1% of our revenues in 2017.
Cegal is a professional partner delivering cloud solutions, software and consultancy within IT, geoscience and data management. We have a business model based on delivery of scalable and recurring As a Service solutions. This enables our E&P customers in the oil and gas industry to scale costs easily.
With significant investments in our product and services portfolio over the last years, we now have a unique offering, and are well positioned for the future.
Cegal is owned by the private equity firm Norvestor (52%) through the Norvestor V, L.P fund, the founders of the company and employees.
About Norvestor V, L.P.
Norvestor V, L.P. (2007) has made 9 control investments and completed 5 exits to date.
Norvestor V, L.P. has total commitments of €236 million. The fund has made investments of €10 million to €45 million in lower mid-market companies with enterprise values of typically €20 million to €120million. Its main focus has been companies in the Norwegian and Swedish markets, with the potential to achieve a leading pan-Nordic or international position where relevant.
Norvestor V, L.P. is fully invested, but has capacity to do follow-on investments in the companies it already owns. Read more on www.norvestor.no