Team, Inc. Becomes The Exclusive Provider Of Credosoft Integrity Mangement In North America

Rhea-AI Summary

Team, Inc. (NYSE: TISI) has announced a strategic agreement to become the exclusive provider of the Credosoft Integrity Management Platform in North America. This partnership is expected to enhance TEAM's capabilities in asset performance, compliance, inspection, and repair solutions. The Credosoft platform is cloud-based, supports a variety of clients, and offers a stable, subscription-based revenue model. According to TEAM's President, this move aligns with their strategy to optimize client asset performance, while Credosoft's CEO emphasized TEAM's ideal qualifications for this partnership.

Positive

• Exclusive partnership with Credosoft enhances asset integrity solutions.
• Cloud-based platform offers scalable, subscription-based revenue model.
• Partnership expected to improve asset performance and operational efficiency.

Negative

• None.

SUGAR LAND, Texas, Aug. 2, 2021 /PRNewswire/ -- Team, Inc. ("TEAM") (NYSE: TISI), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, announced today that TEAM has entered into an agreement to be the exclusive provider of the Credosoft Integrity Management Platform in North America. 

"We are excited to strengthen our relationship with Credosoft, a premier global provider of integrity management software," said Robert Young, TEAM's President of Asset Integrity and Digital Group.  "We have witnessed firsthand the asset performance and operational efficiency improvements realized through the implementation of this platform.  Consistent with our strategy to assist our clients with the performance of their most critical assets, Credosoft enhances TEAM's ability to monitor assets, ensure compliance and provide inspection and repair solutions. The Credosoft service offerings provides TEAM, a stable, subscription-based revenue profile and further positions the company to be a leading provider of integrated digitally-enabled asset integrity solutions in a variety of end markets."

"TEAM is the perfect partner to further help our expansion to North America," said John McAteer, Credosoft's Chief Executive Officer. "After working together for several years helping clients integrate Credosoft, TEAM's knowledge of the software and technical skills are clearly evident.  Additionally, TEAM's large geographic footprint, diverse client base, and highly trained technicians makes them an ideal partner for us. We look forward to our partnership with TEAM as we continue to grow our combined capabilities"

Credosoft Platform

Credosoft Integrity Management Software provides asset integrity management, inspection management and risk-based inspection methodology and damage modeling.  The software is cloud-based, does not require installation, and can accommodate small and complex clients supporting multiple business units and geographical locations.  There are multiple clients currently utilizing the Credosoft platform for integrity monitoring services in North America.

To learn more about the Credosoft Platform or speak with a subject matter expert, e-mail your contact information to credosoft@teaminc.com or visit our website at www.teaminc.com.  

About Team, Inc.
Headquartered in Sugar Land, Texas, Team Inc. (NYSE: TISI) is a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions. We deploy conventional to highly specialized inspection, condition assessment, maintenance and repair services that result in greater safety, integrity, reliability and operational efficiency for our client's most critical assets. Through locations in more than 20 countries, we unite the delivery of technological innovation with over a century of progressive, yet proven integrity and reliability management expertise to fuel a better tomorrow. For more information, please visit www.teaminc.com.

Contact:
Kevin Smith
Senior Director, Investor Relations
(281) 388-5551

View original content:https://www.prnewswire.com/news-releases/team-inc-becomes-the-exclusive-provider-of-credosoft-integrity-mangement-in-north-america-301346375.html

SOURCE Team, Inc.

FAQ

What is the significance of Team, Inc.'s partnership with Credosoft?

The partnership positions Team, Inc. as the exclusive provider of the Credosoft Integrity Management Platform in North America, enhancing their asset performance solutions.

How does the Credosoft Integrity Management Platform benefit Team, Inc.?

The platform provides cloud-based asset integrity management, helping clients ensure compliance and enhance operational efficiency.

When was Team, Inc.'s partnership with Credosoft announced?

The partnership was announced on August 2, 2021.

What is the market impact of Team, Inc. (TISI) becoming the exclusive provider for the Credosoft Platform?

The agreement is expected to improve Team, Inc.'s revenue profile through subscription-based services and strengthen its market position in asset integrity solutions.

What are the capabilities of the Credosoft Platform?

The Credosoft Platform provides asset integrity management, inspection management, and supports risk-based inspection methodologies.