WellPoint Systems Buys Bolo Systems

WellPoint Systems, a Calgary, Alberta-based value added reseller and software provider for the energy industry, said Monday afternoon that it has acquired Denver, Colorado-based Bolo Systems. Bolo Systems provides accounting, finance, and other software for the oil and gas industry. According to WellPoint, the firm will pay $24M US in stock for the firm. The acquisition is expected to close on or before December 30, 2006. Bolo Systems also maintains in Houston, Texas.