VertexOne, a software provider to the utility industry, recently finished an acquisition of EC Infosystems, the largest provider of customer information systems (CIS), billing, and electronic data interchange (EDI) to retail energy companies in North America.
EC Infosystems will continue to offer its industry leading software platform and leverage VertexOne’s - resources to further drive innovation within the deregulated utility sector. This acquisition marks another step in VertexOne’s ongoing strategy of providing utilities of broadening its SaaS offerings.
The acquisition of will drive forward VertexOne’s plans to provide a comprehensive software platform serve a growing customer base in the energy sector. With this acquisition, VertexOne now serves 400 water, electric and gas companies representing over 17 million accounts and over 55 million end customers.
“This partnership represents an exciting opportunity not just for VertexOne and EC Infosystems respectively but also for the deregulated energy sector as a whole as we align and accelerate our joint path of growth and technology innovation,” said EC Infosystems’ President and CEO, Mohan Wanchoo.
The company hopes that the acquisition of EC Infosystems will continue to expedite its growth momentum. With over 170 retail energy clients, EC Infosystems further increases VertexOne’s cumulative client base.
KPMG Corporate Finance LLC served as exclusive financial advisor, and Perkins Coie LLP served as exclusive legal advisor, to EC Infosystems Inc. on this transaction.
SOURCE: VertexOne
