On October 17, Open Link Financial Inc., a provider of energy, commodities, trading, and risk management (C/ETRM) solutions, announced its plan to acquire SolArc, a provider of commodity management solutions for companies operating across the commodity supply chain, with particular strength in logistics associated with physical bulk commodities such as NGL’s, coal, oil and agricultural products.

Kevin Hesselbirg, CEO, OpenLink, said, “The complementary platforms of each company will continually evolve to meet the ever changing needs of the market place, in particular the convergence of physical and financial trading, combined with the need to manage financial risk and operational risk across the associated complexities of physical delivery and settlement.”

The combined entities will remain committed to their respective solution suites while bringing their unique strengths to each other’s product sets. Brad Anderson, CEO of SolArc, will become a member of the OpenLink management team continuing to oversee the vision and product strategy of SolArc product lines focused on usability and mobility.

“Prior OpenLink acquisitions have been similar in that they have selected market leading enterprises with distinct value propositions, and increasing our ability to drive continued value for our customers is the strategic rationale for this combination as well,” noted Anderson.

The acquisition is expected to close by the end of 2011, subject to legal and other regulatory approvals. 

Source:  OpenLink Financial Inc.