M&A Moves
Norway-based risk management company acquires Houston energy SaaS biz
A Norwegian company that specializes in risk management in the maritime industry has acquired a Houston software business.
DNV announced the acquisition of Houston-based ANB Systems earlier this month. ANB's software-as-a-service platform provides energy program services to utility and regulatory body customers. The terms of the deal were not disclosed.
“ANB has grown steadily across its software products, its services, and its customers, through its configurable and scalable low-code proprietary software platforms," S. Balakrishnan, CEO of ANB Systems, says in the news release. "The acquisition by DNV will provide us with the resources for product development and operations, as well as give us global market reach. Most importantly, this will give us the resources to ensure we continue providing excellent customer implementation and support via our successful ReSULTS framework.”
The two companies have collaborated previously, and the acquisition is inline with "DNV's ongoing commitment to support customers in leading and accelerating the energy transition," as the company describes in the release.
"Energy efficiency is one of the defining features of the energy transition and the acquisition of ANB, with its strong focus on quality software solutions, will strengthen and expand our offerings in energy management and related services particularly in North America," Remi Eriksen, group president and CEO of DNV, says in the release.
Since its inception in 1997, ANB has developed digital solutions for automation within energy efficiency, electric vehicles, and more. Its platform is powered by artificial intelligence and machine learning.
"The collaboration between DNV and ANB will bring together two world-class teams, combining insights and experience to deliver comprehensive solutions to customers," Ditlev Engel, CEO of Energy Systems at DNV, says. "ANB Systems was founded with a clear mission - to partner with their customers to create best-in-class technology solutions that empower energy companies to provide best-in-class service including artificial intelligence.
"The company has grown and gained remarkable expertise in developing digital solutions for clean energy programs," he continues. "Together, DNV and ANB Systems are committed to accelerating the transition towards decarbonized, safe, and smart energy systems, enabling a sustainable future for all.”