New York – December 1, 2011 – Openlink Financial LLC (Openlink), a leading provider of energy, commodities, trading, and risk management (CTRM/ETRM) 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."
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