Monday, November 1, 2021
[BUSINESS WIRE] Dallas, TX, 11/1/21 – VertexOne, a leading provider of enhanced SaaS solutions to the utility industry, announces the completion of their 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. This acquisition marks another step in VertexOne’s ongoing strategy of providing utilities of all types with a complete set of SaaS applications and enhanced services to facilitate critical meter-to-cash business processes. EC Infosystems will continue to offer its industry leading software platform and leverage VertexOne’s expertise and resources to further drive innovation within the deregulated energy sector.
The acquisition of EC Infosystems by VertexOne will drive forward its vision to provide a comprehensive software platform matching the ongoing market innovation taking place as hardware, software and services companies enter new business models to drive the energy transition happening across all service types. Either driven by conservation goals, shifting supply sources, or growing an entirely new customer base; VertexOne will have the only comprehensive platform to service this rapidly emerging market sector.
“We are proud to welcome EC Infosystems and their customers to the VertexOne family. The retail energy market is rapidly evolving and will experience impressive growth in new areas with innovative business models or through energy transition currently underway. We are excited to deepen our reach into this space and support energy companies in achieving the same great business success our current utility partners experience,” said VertexOne CEO Andrew Jornod. “This acquisition cements VertexOne’s place combining innovative modern technologies with world-class business support and positions us for continued evolution from the perspective of the regulated utility, deregulated energy retailers, energy suppliers, and the innovators driving energy transitions to more sustainable sources. ”
With this acquisition, VertexOne now serves 400 water, electric and gas companies representing over 17 million accounts and over 55 million end customers, making it the largest provider of 100% SaaS based software solutions to the North American utility industry. It will bring together the largest and most comprehensive data set of customer profile information of any company within the industry, driving a renaissance of innovation through data analytics, artificial intelligence and machine learning to all users of the VertexOne suite of software products.
“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. “Our customers will be able to leverage the products and services of the combined enterprise as they expand and grow their business.”
The acquisition of EC Infosystems will continue to expedite VertexOne’s growth momentum. With over 170 retail energy clients, EC Infosystems pushes the cumulative client base to larger than that of any other provider in the energy software space. Additionally, EC Infosystems’ customers will now have access to a larger portfolio of fully integrated customer engagement, mobile workforce management, data analytics, bill print, and payment solutions.
“Together, EC Infosystems and VertexOne are poised to disrupt the energy industry by offering a cumulative suite of innovative products and services,” said Ananda Goswami, Chief Revenue Office of EC Infosystems. “Coupled with our existing track record of unparalleled service, security, and technology, VertexOne’s industry longevity and established reputation provides the necessary resources to take our business strategies to the next level.”
Headquartered in Uniondale, New York with offices in Allentown, PA and Houston, TX, the EC Infosystems team is widely regarded as having paved the way for modern billing and EDI solutions in the retail energy market.
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.
About EC Infosystems
EC Infosystems is a market-leading Software as a Service provider (SaaS) of Electronic Data Interchange (EDI) and UtiliBill™ (Billing/Customer Information Solutions (CIS)), serving clients in the deregulated energy industry across the United States. The company's sophisticated software platform is user friendly, improves efficiency and operating performance, and provides clients with a strong competitive advantage.