OpenLink Completes the Acquisition of SolArc
Immediate value to customers in combined breadth of industry and market knowledge, resources, and expanded solution suites
New York - December 01, 2011 - OpenLink Financial, LLC (OpenLink), a leading provider of energy, commodities, trading, and risk management (E/CTRM) solutions, which support the entire transaction lifecycle, has completed the deal to acquire SolArc, a vanguard in commodity management solutions for companies operating across the commodity supply chain, with a particular strength in physical bulk commodities.
Kevin Hesselbirg, Chief Executive Officer, OpenLink, said, "For many years OpenLink and SolArc have discussed the merits of coming together in order to serve our customers in a more comprehensive manner. We are thrilled to have cleared the final regulatory and legal approvals and have now successfully completed our acquisition of SolArc."
Brad Anderson, SolArc's CEO, added about the newly combined company, "Customer feedback has been outstanding and validated our assumptions. Clients and prospects have been very positive about our commitment to the respective solution suites. They have also expressed enthusiasm about our ability to leverage the unique strengths of both product lines, and the benefits of our expansive breadth of industry and market knowledge."
Hesselbirg furthered, "The combination of SolArc and OpenLink is evidence of our commitment and investment to meet the needs of our sophisticated, global customers today and for the future. The collective capabilities extend OpenLink's leadership in physical bulk commodities and related logistics -- NGL's, coal, oil and agricultural products. We look forward to working with our valued customers to continue to create innovative solutions to meet their needs. We are confident that the combined talents of the two organizations will drive the next phase of our growth."
Media Contacts
Cognito, Caitlin Mitchell, +1 (646) 395-6300 OLF@cognitomedia.com
About OpenLink
Founded in 1992, OpenLink provides decision support software solutions for transaction lifecycle management. This encompasses financial and physical cross-asset trading, risk management, related operations processing and portfolio management for commodity, energy and financial services markets and industries globally.
OpenLink's client base of more than 540 clients worldwide includes 13 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York and with offices in New York City, Houston, Dallas, Tulsa, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 1,300 employees worldwide. Please visit www.OpenLink.com.
