Ventyx Completes Acquisition Of Tech-Assist Inc.
Ventyx Corporate Communications Gary Frazier, 770-989-4188 gary.frazier@ventyx.com Ventyx, the world's largest private software provider to the utility industry, recently announced it has completed the acquisition of Tech-Assist Inc., a proven leader in operations management software systems for power generation and other asset-intensive continuous process industries. Tech-Assist's software solutions and experienced personnel will be merged into Ventyx, bolstering the company's unmatched feature set, market share and domain expertise in these demanding industries.
Tech-Assist's flagship product, the Shift Operations Management System (eSOMS), is a mission-critical plant operations management application which helps clients ensure the safe, efficient and reliable operation and maintenance of their facility assets. The software offers highly complementary features to Ventyx's Asset Suite solution in the areas of tagout/lockout, equipment status reporting, electronic logging and operator rounds, as well as a proven mobile platform for plant workers. It is currently licensed at more than 155 major power and industrial plants--including 54 nuclear power plant sites--as well as the entire U.S. Navy fleet consisting of more than 265 ship and shore activities.
"Tech-Assist's plant operations management solutions are the perfect complement to our industry-leading enterprise asset management suite," said Ventyx President and CEO Vince Burkett, "enabling both efficient operation and optimized maintenance processes for the most demanding plant environments. And, their staff's wealth of expertise in both plant engineering and software design, particularly in the nuclear market, will help Ventyx remain the leader in delivering performance-proven solutions to power generation and other asset-intensive industries for years to come."
"We are pleased to join a proven leader like Ventyx to expand our solution offering and footprint in the worldwide energy and utilities market," said Tech-Assist CEO Matt Lechowicz. "Both Ventyx and Tech-Assist have dominant market share in the North American nuclear market, running in 90 percent of the commercial nuclear reactors, and our combined software is in nine of the top 10 power generators in Europe. With the ever-increasing demand for clean, efficient power generation, this global market will prove fertile ground for Ventyx's broad platform of best-of-breed products backed by our extensive domain expertise."
The industry-leading fleet management capabilities of the combined solutions will also prove to be a key differentiator in the expanding power generation market. "Power generation companies are increasingly operating generation as a fleet--improving unit efficiency, rightsizing maintenance inventory, sharing maintenance best practices, managing the workforce and operating the fleet within the market," said Jill Feblowitz, director of Energy Wholesale Strategies, Energy Insights. "Work and asset management applications such as Ventyx's Asset Suite and Tech-Assist's eSOMS can play a major role in supporting fleet optimization."
Adding Deep Subject Matter Expertise
The Tech-Assist product group will be integrated into the Ventyx Asset Suite organization and will continue to support the development and deployment of its current software and services as part of the Asset Suite offering. Tech-Assist founders, Lechowicz and Vice-President and Secretary Patrick G. Gex, will also play key roles in the Ventyx organization. Lechowicz, with more than 25 years in plant engineering and software development including designing and constructing nuclear power plants in the U.S. and abroad, will serve as Ventyx industry solution executive responsible for solution strategy and execution for power generation in North America. Gex, who also has more than 25 years in the power plant engineering and computer industries, will serve in the same role for Europe, the Middle East and Africa.
According to Ventyx Chief Operating Officer Steve Carpenter, Ventyx customers will add their expertise as well. "Ventyx and Tech-Assist have proven complementary products, evidenced by the fact that 15 top power generators already use software from both companies and Asset Suite and eSOMS coexist in more than 70 generation plants today. As a result of this merger, future integrations will leverage the strengths of both products--utilizing our greatest combined asset, our customers. We will consult with our joint customers and reference use cases from existing co-deployments to determine how the products can work together to deliver optimum value. In addition, we will leverage our services-oriented Foundation Architecture platform to facilitate stable and flexible integrations."
Prime Investments, LLC, of Bethesda, MD, acted as intermediary in the acquisition transaction.
About Ventyx
Ventyx is a leading business solutions provider, delivering asset management, mobile workforce management, customer care, energy trading and risk management, energy operations, and energy analytics solutions to more than 900 energy, utility and communications customers, as well as to asset-intensive customers in selected commercial markets. With approximately 1,200 employees in more than 20 locations worldwide, 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.
SOURCE: Ventyx Corporate Communications