Clevest Solutions Announces Acquisition Of Axia Software

Transaction will add asset investment planning to the company's portfolio of solutions exclusively targeting the utility enterprise

Clevest Solutions Inc., a leading provider of software for mobile workforce automation including smart grid deployment and post-deployment operations exclusively for the utility industry, has announced the acquisition of Vancouver-based Axia Software Corporation. This transaction adds to the company's suite of software-based solutions for the utility enterprise by providing asset investment planning, an emerging and complementary solution created using the same underlying technologies, to the companies' shared target market.

Axia's REVEAL asset investment planning (AIP) solution allows utilities to optimize long-term asset investment decisions by leveraging utility asset data, engineering objectives and corporate policy positions. AIP has been recognized by Gartner, Inc., a worldwide information technology research and advisory company, as an emerging category solution that is rapidly gaining industry recognition. In a recent report Gartner noted that utilities with an enterprise AIP solution could reduce their capital planning efforts by over 90%.

"I'm excited for the future of Axia and our enterprise AIP solution as a complementary offering to Clevest's well-established smart grid and operational software product lines. The acquisition strategically makes sense, given our common focus on the utility industry and the market demand for business intelligence to leverage utility data resulting from the global adoption of smart grid technologies. Axia's AIP solution will add value to Clevest's extensive customer base and is an obvious go-to-market accelerator," stated Trevor St. Germain, President and Co-founder of Axia Software.

"We're pleased to bring Trevor St. Germain and the Axia AIP team into Clevest. The caliber of these individuals and their deep domain knowledge will be a great asset as we continue to transform alongside the changing utility industry," said Tom Ligocki, President and CEO of Clevest Solutions.

"With this acquisition we and our partners will continue to offer more valuable solutions, which will result in an improvement to both our top- and bottom-lines."

About Axia Software
Axia provides enterprise-class software solutions for asset investment planning (AIP), connecting corporate objectives with engineering imperatives to produce optimized capital investment plans for asset life cycle management. AIP links information about historic performance, asset health and calculated risk to enable decision-making that is aligned with the requirements of stakeholders and regulatory bodies. Utilities become able to satisfy network reliability and capital investment demands while reducing business risks. For more information, visit www.axiasolutions.com.

About Clevest Solutions
Clevest Solutions provides software for mobile workforce automation and smart grid deployment and post-deployment operations exclusively for electric, gas and water utilities. Over 100 utilities worldwide have chosen Clevest to transform their field operations by harnessing the power of our software and deep domain knowledge of mobile computing and utility operations. Clevest's award-winning Mobile Field Force platform powers a product suite that includes mobile workforce management, GPS-enabled automated vehicle location, meter reading solutions and a patent-pending configuration tool, as well as the only complete solution for smart grid deployment and post-deployment activities. For more information, visit www.clevest.com.

SOURCE: Clevest Solutions Inc.