SunGard Agrees to Acquire Energeya, Expanding Coverage for the European Gas & Power Industry
Published: February 04, 2015
New York – 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 energy business