SunGard has announced that it has agreed to acquire from Venice PMI and its management team the entire share capital of Energeya S.R.L., a provider of high-performance software solutions that support core processes across the energy management value chain for the European gas and power industry.
The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard’s financial results. Completion of the acquisition is subject to the satisfaction of certain conditions.
Energeya offers a range of solutions, through its primary brand XDM, aimed at mid to lower tier gas and power companies that help ensure full compliance to local market rules for energy trading. XDM provides a full suite of services for data management, forecasting, trading, scheduling, supply optimization, planning, risk, portfolio management and settlement for gas, power and emissions as well as renewables commodities.
Upon closing, Energeya and its XDM platform will become part of SunGard’s energy solutions focusing on the mid to lower tier utilities and large industrial companies with an extended value chain. With expertise in Europe’s physical markets, Energeya offers extended capabilities for the already established SunGard energy customer base. Existing SunGard customers will have access to a dedicated compliance solution as well as expanded energy data management, forecasting and portfolio optimization capabilities.
“The combined platforms will be unique in the energy and commodity trading and risk management space and creates opportunities to give our joint customers a more complete solution by leveraging true modularity and scalability within the XDM platform,” said Alessandra Todde, chief executive officer of Energeya.
“There has been significant activity in Europe’s gas and power industry with the opening up of new markets and globalization of liquefied natural gas (LNG). Additionally, regulations like the European Market Infrastructure Regulation, EMIR, and the Regulation on Wholesale Energy Markets Integrity and Transparency, REMIT, are continuing to be major drivers for system selections with regional firms. Better access to these firms creates a strong strategic fit to help drive growth for the energy business in Europe. The acquisition of Energeya will help us expand our European presence while enhancing our capabilities around forecasting, optimization and scheduling,” said Andrew Bateman, president of SunGard’s energybusiness.
Founded in 2008 by the current management team, Energeya provides high-performance software solutions to support core processes in the energy markets worldwide. Helping ensure full compliance to local market rules, Energeya solutions both for energy companies and for high-volume energy consumers automate the whole energy management value chain focusing on forecasting, trading, supply and optimization management, planning, risk, portfolio management and settlement for power, gas, oil, CO2 and renewables commodities. With a strong presence in Europe, Energeya’s mission is to help clients to face the challenges of the ever-evolving energy industry, providing products and services that enable companies to transform their organizations at all levels of the value chain.
Venice PMI, is an investment company fully owned by Palladio Finanziaria S.p.A. focused on private equity investments in small and medium-sized Italian businesses. Palladio Finanziaria, through its portfolio of specialized investment companies, including Venice PMI, VEI Capital, Venice and VSL, is a leading independent private equity investor in Italy and has a capital under management of about €1 billion Euro.
SunGard is one of the world’s leading software and technology services companies, with annual revenue of about $2.8 billion. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard serves approximately 16,000 customers in more than 100 countries and has more than 13,000 employees. For more information, please visit www.sungard.com.