Avatar Systems, Inc. (AVSY.PK) is a leader in accounting and resource management software for the Oil and Gas industry. Avatar was the first application solution provider for the industry and has continued to lead by offering document imaging and workflow solutions that increase productivity and lower operating costs.
Avatar Systems has a growing customer base with its use of Petroware2000™ and Integra Energy™ products for Microsoft Windows and Avatar400™ on the IBM AS400 platforms. The company also provides document imaging, workflow and business process management in addition to disaster recovery and remote backup services. AVSY plans to leverage its technology, business and marketing strengths by acquiring additional businesses with software and IT industry verticals.
Avatar acquired Questa Software Systems, Inc. in 2006. Questa develops ERP Accounting Software for the oil and gas industry. The acquisition has shown to be profitable with an increase in revenues of 36.4% to $1.9 million at the end of the six months ended June 30, 2007.
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