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Home > Company Index > Diversified Services > Miscellaneous Business Services > Novistar, Inc.

Novistar, Inc.
 NEWS FROM THE STANDARD
IPO Weekly: Can KPMG Consulting Loosen the IPO Log Jam?
Feb 02 2001 04:33 PM PST

 PROFILE
Novistar is dedicated to making sure oil's well with the business operations of its clients in the oil and gas industry. It offers outsourcing services such as systems control maintenance, operational cost accounting, regulatory reporting, and cash management to Nuevo Energy (20% of sales), Bellwether Exploration, Kerr-McGee, and other clients. The company also makes transactional support and business intelligence software, which it licenses to clients. In addition, Novistar provides application hosting services for its own software, as well as third-party products. Torch Energy, which founded Novistar in 1999, owns about 78% of the company; software giant Oracle, about 22%.

 COMPETITION
PeopleSoft, Inc. (PSFT)
PricewaterhouseCoopers (dossier)
SAP Aktiengesellschaft (SAP)

 DEALS
Deal: Novistar, Accenture Team Up for Petroleum Market
Date Announced: 02.07.01
Value of transaction (US $Mil): 0
Description: Operations and accounting software developer partners with consulting firm to create accounting outsourcing solutions for the U.S. energy market.

 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 18.10
Employees: 284
Revenue per employee: $63,732.39

 KEY PEOPLE
• Thomas M. Ray
    CEO
• John V. Sobchak
    CFO

 CONTACT INFO
1331 Lamar, Ste. 1650
Houston, TX 77010
US
Phone: 713-652-4995
Fax: 713-756-1744
Online: Web Site

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