Dover Fueling Solutions (“DFS”), a part of Dover Corporation that delivers advanced fuel dispensing equipment, electronic systems and payment, fleet systems, automatic tank gauging, and wetstock management, announced today that it has entered into a commercial partnership agreement with, and acquired a minority interest in, EdgePetrol Limited (“EdgePetrol”), an innovative provider of cloud-based software for revenue and operating results management to the retail fueling industry. By entering this new strategic technology partnership, DFS will enhance its offering of software solutions to the global convenience retail industry.
Based in London, England, and founded in 2015, EdgePetrol offers a Software-as-a-Service solution to help retail fuel operators optimize their station performance. The secure, comprehensive solution operates in the Amazon Web Service (AWS) environment and is a complementary platform for DFS, which offers the enabling devices to manage the flow of underlying data.
“We chose DFS as a strategic partner not only because of the alignment in products and SaaS service models, but because of their ability to reach a global market with established and growing customer relationships,” said Gideon Carroll, CEO of Edge Petrol. “The investment enables us to expand our product suite with customer-driven solutions, whilst the commercial agreement will allow fuel station owners around the world the opportunity to use Edge Petrol’s software through DFS’s global network.”
“This innovative fuel management software complements the DFS DX cloud-based solutions and will help our customers improve their business operations and results,” said David Crouse, President of DFS. “This software can also be deployed in other applications, providing DFS with growth opportunities outside of retail fueling, including in renewable energy for transportation and various other retail verticals.”
Crouse continued, “The minority investment we’re making in EdgePetrol aligns directly with our goals of both growing our business through strategic partnerships such as these and broadening our solutions and products portfolio and roadmaps. Our commercial agreement enables DFS to market this product globally.”
Terms of the transaction were not disclosed.