The leading Finnish independent energy consultant, Enegia Group, buys intStream, a software company operating in the energy market. With this acquisition, Enegia will strengthen its position as provider of services to electricity companies, says Managing Director Tommi Vekka.
Enegia Group will buy intStream, a software company operating in the energy market, from the Norwegian company EuroPower. A significant number of Finnish electricity companies uses intStream software for energy market analysis and management of market information, risks and sales contracts. intStream was founded by Finnish software developers and has its Head Office in Espoo, Finland.
The acquisition will bring about the best software offering in the field
“The acquisition supports our growth strategy. Enegia manages a fourth of the electricity use in Finland, and now we will increase our market share as partner to electricity companies,” says Tommi Vekka, Managing Director at Enegia Group.
“By combining intStream software and Enegia’s services we will create an unrivaled service offering for electricity companies. Furthermore, Enegia’s software offering combined with intStream software will provide new opportunities for Enegia’s existing clients. In addition, the know-how of intStream staff will further solidify software development at Enegia.”
“Developments in the market also favour the merger. In the future, risk management in the energy market will be even more important, and electricity producers will need strong service providers when energy prices are low,” Tommi Vekka continues.
For Enegia, the energy market software makes up one element of the company’s service offering.
“The merger with Enegia is a great opportunity for us, and the benefits are mutual. We will continue developing the E2 software, and we will be in an excellent position to showcase our software to an even larger client base now that we will be part of Enegia,” says Tero Kurkinen, Managing Director at intStream.
All intStream employees will continue at Enegia after the merger.
Enegia Group is a consulting company specialized in energy procurement and energy efficiency. It employs over 170 energy experts in Finland and Sweden. Of the total electricity use in Finland, 25 per cent is managed by Enegia. Enegia Group’s offices are located in Hämeenlinna, Jyväskylä and Helsinki in Finland and in Stockholm, Sweden, and its service turnover in 2015 reached EUR 18 million. www.enerkey.com
intStream is a Finnish ICT company offering products and services that support the decision-making processes of Nordic energy market operators. intStream’s customers consist of electricity companies and energy-intensive industrial enterprises in Finland and the Nordic countries. A significant number of Finnish electricity companies use intStream’s systems. www.intstream.fi