OpenLink

OpenLink Acquires Austrian-based Energy Solution Provider

NEW YORK, NY, January 16, 2007 /Business Wire/ OpenLink, a leading provider of cross asset trading, risk management and operations processing software solutions -- announced the purchase of IRM today, an Austrian-based energy solution provider focused on energy asset optimizing and strategic planning.

IRM was founded in 1998 and has established itself as a leading energy solution provider in Europe with more than 40 references in 16 countries, and 70 employees. IRM’s solution portfolio includes structured procurement management (forecast, energy disposition, and asset management), optimization, and investment analysis and planning.

"IRM brings a wealth of domain knowledge in the areas of production and supply optimization, market liberalization, and asset management," said Kevin Hesselbirg, COO/CFO of OpenLink. "In addition to their software, we are very impressed with the market skills of the IRM staff, and look forward to working together in many future endeavours"

IRM extends OpenLink's portfolio of products, and strengthens domain expertise in the physical energy arena. IRM's products have been widely adapted in Continental and Eastern Europe. In particular, IRM offers the following solutions: Forecast System "iOPT_PRO" (statistical forecast of consumption, prices, hydro inflow, etc.), Optimization System "iOPT_OPT" (MILP optimizer for portfolios, networks of storage, generation and consumption as well as transport paths), Physical Asset Management System "iOPT_TRADE" and Strategic Planning System "iPLAN". These solutions, combined with OpenLink’s Endur, will become the most robust end-to-end energy solutions for cross-energy firms and utilities, especially in the power (fossil and hydro), gas, and oil markets.

"Functionally, IRM is particularly strong in the areas of optimization and asset management," said Wolfgang Ferse, Managing Director of OpenLink International. "Combined with OpenLink’s expertise in cross-asset and cross-market trading and risk management, we can now provide the broadest coverage of energy products and services to our growing customer base."

IRM will remain in Vienna and continue to operate as an independent company with an entrepreneurial approach. Our combined customer base will benefit from its acclaimed product support center for German and Russian speaking clientele. OpenLink will also invest significantly in IRM’s development group, focusing on further improving, expanding and integrating the capabilities of IRM’s products into the Endur suite.

"Integrating with OpenLink represents a tremendous development for our organization," said Markus Seiser, CEO of IRM. "Leveraging OpenLink’s worldwide infrastructure, we can now expand our domain expertise and market our solutions to a global client base, especially those in North America. Our entire team is very excited and looks forward to this wonderful opportunity."

"Unlike many of our competitors, OpenLink is not known as an ‘aggregator’ in the business. We have been growing organically — and rapidly — since the founding days. That’s why this merger truly signifies how much the two companies have in common — our development-centric culture, our integrity, and our work ethics — and how much we complement each other," said Coleman Fung, CEO and founder of OpenLink. "And how much and how fast we — together — can deliver for our clients, supercharging the returns on their investments in both companies."

About IRM

IRM's system solutions are specifically tailored to the requirements of deregulated markets and support the operative business as well as strategic planning. From structured procurement management (forecast, energy disposition, from simple registration and handling of an increasing number of procurement flows including schedule and balancing group management) to energy trading with portfolio/risk management (including complex risk and optimization functionalities) in the multi-commodity environment as well as in investment analysis and planning.

Due to its long term experiences the company offers their know how in the consulting area: system optimization, liberalization, IT and energy trading. Initially, IRM AG was founded as a limited liability company in 1998. Commercial operation began in 1999 with 11 employees. After going public, the company established itself as a leading solution provider in Europe with more than 40 references in 16 countries and a staff of over 70.

About OpenLink

Founded in 1992, OpenLink is a leading developer of cross asset trading, risk management, and operations processing software solutions. The company's Next Generation eXtensible (NGX 2.0) platform supports the most rigorous business requirements of firms trading in virtually all asset classes including crude products, natural gas, electricity, interest rate derivatives, fixed income securities, foreign exchange, money markets, metals, soft, and other commodities. OpenLink's global client base includes 70+ clients such as Austin Energy, HESS Corporation, Banco Central de Costa Rica, Banco de Mexico, Bank of America, Bank for International Settlements, Bank of Canada, HBOS Treasury Services, Bridgeline Holdings, Calyon, Coral Energy, Citigroup Global Market, Inc., Deutsche Bank, Enbridge, Energy Transfer Partners, Nexen, Shell, Statoil and Vattenfall Europe Trading. Headquartered in Long Island, New York, and with offices in London, Houston, New York City, Berlin, Sydney, and São Paulo, OpenLink employs more than 375 professionals worldwide.

Editorial Contact

e-mail: Dorianne Landolphi
OpenLink
Marketing Communications Manager
Direct phone: +1 516 394 1115
Fax number: +1 516 394 1197