A new, strong partnership in Risk Analytics and Energy Trading

6 January 2011

Navita Systems, Halden, Norway, a leading provider of ECTRM systems for the global energy and commodity trading community, and Ascend Analytics, Boulder, Colorado (US) announced today the formation of a non-exclusive strategic partnership. This partnership will allow Navita to offer Ascend’s best-of-breed risk analytics to its customers, and Ascend to offer Navita’s best-of-breed energy trading solutions to its customers. Further, the parties are free to pursue extended-footprint opportunities with requirements for both energy trading transaction systems and risk analytics.

Broadening solutions to customers by combining two best-of-breed solutions in the areas of energy trading and risk analytics.

“We believe that there is significant potential for Ascend’s solutions amongst Navita’s customer portfolio. Our risk analytics solutions augment ETRM solutions like Pomax by providing detailed analysis of physical & financial portfolios. This partnership will allow us to offer broader portfolio management solutions to our customers. However, at the end, the decision to pursue this partnership boiled down to the fact that both companies share the same philosophy with regard to generating business value in the energy markets: robust, configurable products offered at reasonable prices and short implementation times” said David Leevan, VP of Ascend Analytics.

“We regularly see requests for best-of-breed risk analytics for use together with our Pomax ETRM system. Specialized risk analytics is different from transaction systems for energy trading and generic risk management, and doing it well requires staff with a specialized educational and professional background. After thorough evaluation of various software packages and with due consideration of and respect for the challenge of integrating third-party solutions, we decided to pursue this partnership with Ascend.” said Knut Johansen, CEO of Navita Systems AS.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development