FOR RELEASE APRIL 22, 2009
MEDIA CONTACT
Marc Bane
Phone: 1+978.443.2378
marc.bane@thestructuregroup.com
www.thestructuregroup.com
The Structure Group® to Focus on Rapidly-Growing Energy / Utility Consulting Services
Company Signs Agreement to Sell its Software Business to Ventyx®
HOUSTON, TEXAS (April 22, 2009) - The Structure Group®, an industry leader in consulting services and business solutions for energy market participants, has announced that it has entered into a definitive agreement with Ventyx®, a world leader in software, data and advisory services for the utility industry. Under the terms of the agreement, Ventyx will acquire Structure's software assets, including Structure's flagship nMarket® software suite, the leading transaction management and settlement solution for participants in deregulated wholesale power and gas markets. In addition, nMarket employees and management will be integrated into the Ventyx product management and sales organizations. The sale of Structure's software business to Ventyx will allow Structure to focus on high demand for its deep, energy-market expertise offered through the company's growing consulting organization.
"The outstanding success and market leadership achieved by the Structure nMarket software suite over the past nine years is the direct result of a focused product strategy, a dedicated and responsive customer base, and great execution by an exceptional team of software professionals," said Lisa Blackwood, Managing Principal, The Structure Group.
"In 1998, The Structure Group was originally founded as a consulting organization," said Blackwood. "We developed the nMarket product at the request of our customers to enable successful participation in the deregulated markets. As markets have evolved over the last ten years, the seamless integration of multiple business applications in the energy value chain has become increasingly important. The growth of our customer base has exceeded expectations. nMarket is a critical application that needs to expand its footprint and integration in the larger context of transaction applications. We believe, that going forward, Ventyx is in a great position to unlock the potential of nMarket and ensure increasing value is delivered to the nMarket customer base."
"The sale of our software business is a win for everyone," said Amy Zupon, Principal and Vice President of Software Development for Structure. "The depth and breadth of the Ventyx Energy Portfolio Management (EPM) solutions, which will now include nMarket, offers nMarket customers an opportunity to explore new ways to improve operational efficiency and financial performance. The nMarket software team members will have a new path to broaden their skills and career opportunities with a large, diversified software company, and Structure's consulting organization can increase its focus on broadening its offerings and growing its international client base."
"Over the past 18 months, Structure has been expanding its energy consulting organization by recruiting the best and the brightest consultants in the industry," said David Shepheard, Vice President of Corporate Development and Strategy for The Structure Group. "The deep, energy-industry subject matter expertise we have built in such areas as AMI / MDM / SmartGrid, Asset Operations and Optimization, Energy Trading and Risk Management, ISO Market Solutions, Enterprise Asset Management, and NERC / FERC Compliance, are really gaining traction. With the Ventyx acquisition of the software business, we can accelerate our recruiting and marketing efforts in our consulting business to best provide the services our clients need, expand our global presence, enhance our relationship with Ventyx and other leading energy / utility software providers, and further establish our industry leadership."
About Ventyx
Ventyx is a leading business solutions provider, delivering asset management, mobile workforce management, energy portfolio management, and customer care solutions to more than 1,250 energy, utility and communications customers, as well as to asset-intensive customers in selected commercial markets. Ventyx delivers best-of-breed business solutions that maximize operational and financial performance, backed by the industry's deepest available industry-specific domain expertise. For more information, visit our Website at www.ventyx.com.
About The Structure Group®
The Structure Group is a leading provider of consulting services and business solutions to energy market participants in North America and Europe. Structure has assisted more than 70 market participants on business transformation projects. Structure offers comprehensive consulting services and deep energy industry expertise in Market Solutions, Energy Trading and Risk Management, Generation Operations and Optimization, Energy / Utility Enterprise Asset Management, and AMI / MDM / SmartGrid. For more information, visit www.thestructuregroup.com.
Ventyx is a registered trademark of Ventyx Inc.