OpenLink, a leading provider of cross asset trading, risk management and operations processing software solutions -- announced the purchase of IRM today, an Austrian-based energy solution provider focused on energy asset optimizing and strategic planning.
IRM was founded in 1998 and has established itself as a leading energy solution provider in Europe with more than 40 references in 16 countries, and 70 employees. IRMâs solution portfolio includes structured procurement management (forecast, energy disposition, and asset management), optimization, and investment analysis and planning.
âIRM brings a wealth of domain knowledge in the areas of production and supply optimization, market liberalization, and asset management,â said Kevin Hesselbirg, COO/CFO of OpenLink. âIn addition to their software, we are very impressed with the market skills of the IRM staff, and look forward to working together in many future endeavours.â
IRM extends OpenLink's portfolio of products, and strengthens domain expertise in the physical energy arena. IRM's products have been widely adapted in Continental and Eastern Europe. In particular, IRM offers the following solutions: Forecast System "iOPT_PRO" (statistical forecast of consumption, prices, hydro inflow, etc.), Optimization System "iOPT_OPT" (MILP optimizer for portfolios, networks of storage, generation and consumption as well as transport paths), Physical Asset Management System "iOPT_TRADE", and Strategic Planning System "iPLAN". These solutions, combined with OpenLinkâs Endur, will become the most robust end- to-end energy solutions for cross-energy firms and utilities, especially in the power (fossil and hydro), gas, and oil markets.
âFunctionally, IRM is particularly strong in the areas of optimization and asset management,â said Wolfgang Ferse, Managing Director of OpenLink International. âCombined with OpenLinkâs expertise in cross-asset and cross-market trading and risk management, we can now provide the broadest coverage of energy products and services to our growing customer base.â
IRM will remain in Vienna and continue to operate as an independent company with an entrepreneurial approach. Our combined customer base will benefit from its acclaimed product support center for German and Russian speaking clientele. OpenLink will also invest significantly in IRMâs development group, focusing on further improving, expanding and integrating the capabilities of IRMâs products into the Endur suite.
âIntegrating with OpenLink represents a tremendous development for our organization,â said Markus Seiser, CEO of IRM. âLeveraging OpenLinkâs worldwide infrastructure, we can now expand our domain expertise and market our solutions to a global client base, especially those in North America. Our entire team is very excited and looks forward to this wonderful opportunity.â
âUnlike many of our competitors, OpenLink is not known as an âaggregatorâ in the business. We have been growing organically â and rapidly â since the founding days. Thatâs why this merger truly signifies how much the two companies have in common â our development-centric culture, our integrity, and our work ethics â and how much we complement each other,â said Coleman Fung, CEO and founder of OpenLink. âAnd how much and how fast we â together â can deliver for our clients, supercharging the returns on their investments in both companies.â