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ADD Systems Acquires Energy Division From Versyss
Posted: 02 February 2005
ADD Systems reaffirmed its position as a leader in the energy software industry with its acquisition of the Energy Division of Versyss Commercial Systems, LLC on January 25, 2005 when owner / CEO Bruce A. Bott announced that ADD Systems has acquired the assets of the Energy Division of Versyss. The deal includes the Versyss family of energy software products (Versyss Classic, Apex and Sunrise ), over 350 customers, 35 employees and two office locations: Providence , RI and Toronto , Ontario .
"When Versyss Commercial Systems approached ADD Systems about acquiring the energy division, we responded quickly as we were interested in their technology and products," Bott explained. "The more we thought about it, adding more qualified resources while increasing our market share made the decision a lot easier. The personnel of Versyss bring with them a vast degree of knowledge and experience gained in the energy industry, with special expertise in the latest computer technology. As a result, we will be able to develop our joint applications at an accelerated pace with even more comprehensive features. ADD Systems will be able to offer a selection of products and technology of unparalleled value for today's energy marketer."
The coming months will contain much work as they integrate the employees, products, computer and phone networks into the ADD Systems family. But as Bott explains: "During this transition, ADD Systems will maintain our standard of excellent customer service for both existing customers and the new users from Versyss. Our ADD executives and employees bring experience to this type of acquisition." The Versyss acquisition marks the third major acquisition of a competitor by ADD Systems. In 1997, ADD Systems acquired the petroleum division of STS Systems, LTD. The acquisition brought with it an office in Montreal , 28 employees, 54 customers, and multiple software products, including MiniFuel, Wholesale, LINC and Pegasus. In 1999, ADD acquired the PSS petroleum division of EDS. That acquisition brought with it an office in Orlando with 55 employees and multiple software products including: PAMS, Power*Store2 and Power*Scan.
Posted by Editor Pipeline Magazine
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