Ventyx(TM), the world's largest private software provider to the utility industry, today announced that it has acquired NewEnergy Associates, a leading global provider of software and consulting solutions for energy planning, decision support and operations. NewEnergy will be merged with the recently acquired Global Energy Decisions to form the most comprehensive and capable offering of analytics and applications serving the corporate offices of the energy and utility industry.
"By acquiring and combining these two industry leaders, Ventyx has further expanded our unparalleled capabilities and unmatched expertise in the energy and utility market,â said Ventyx President and CEO Greg Dukat. "Furthermore, these acquisitions reflect our proactive strategy for growing our business in all of our key target markets. We will continue to proactively look for opportunities to expand and deepen our product offerings and expertise in all of our targeted asset-intensive industries, including energy, utilities, telecommunications, broadband and our commercial markets.â
"Both NewEnergy and Ventyx have been providing solutions to the energy and utility industry since the 1970s, and we both have a history of added value, growth and success,â said NewEnergy President and CEO Deane S. Price. "By delivering greater coverage of business functions related to strategic and financial planning, forecasting, operations and trading and risk management, our complementary solutions will help Ventyx build a powerhouse of unmatched capability and expertise for the energy industry. Our clients will benefit greatly from the broadened offerings of our solution sets, the industry expertise of our personnel and the enhanced stability of our combined company.â
NewEnergy Associates, acquired from Siemens Power Generation (SPG), provides a diverse portfolio of integrated planning, forecasting, operations and trading software, as well as a broad range of consulting services. The company's energy planning and operations systems enable lower implementation costs, quicker speed to market, business transparency and reduced support needs.
"Energy trading and risk management and meter data management are poised for growth as utilities look for innovative ways to satisfy customers, shareholders and regulators in the context of climate change, reliability and energy security," said Jill Feblowitz, Director of Business Technology at Energy Insights, an IDC company. "With the acquisition of NewEnergy Associates, Ventyx is well positioned to benefit from this growth by acquiring not only additional capabilities in these areas, but new customers and cross-selling opportunities in its existing client base as well."
NewEnergy Associates will be merged with Ventyx Global Energy Decisions as an operating business of Ventyx, and its employees and management team will continue to support the development and deployment of its current software, data and services solutions. NewEnergy management will also play important roles in the future of the Ventyx organization. NewEnergy President and CEO Deane S. Price will lead the newly combined business as general manager. Price will report directly to the Board of the combined business, which will be led by Board Chairman Ron McMahan, as well as to Ventyx President and CEO Greg Dukat. Global Energy Decisions President Dan Drechsel will continue to serve the company for an interim transition period, after which he will leave to pursue other interests.
"This acquisition marks the culmination of the Global Energy Decisions vision to bring together the experts, tools, applications and services which will make our company by far the leader in this global marketplace,â said McMahan. "We believe we have not only the right solutions, but also the right company leadership to continue to expand our presence in this market.â