OpenLink Acquires dbc SMARTsoftware Inc. Establishes Leading Position in Agricultural, Biofuel and Soft Commodity Software Solutions Market
New York, January 19, 2010 - Business Wire - OpenLink Financial LLC (OpenLink), a leading provider of cross-asset trading, risk management and operations processing software solutions, announced today that it has acquired dbc SMARTsoftware, Inc., ("dbc"), a global provider of software solutions for the agricultural, biofuel and soft commodity industries.
dbc develops and markets dbcSMARTsoft, a premier software solution suite for producers, processors, manufacturers and traders who buy, sell, hedge, warehouse, merchandise, export, and transform commodities into value-added products and by-products for distribution. With hundreds of installations in sixteen countries, dbc provides mission critical solutions that help manage exposure to commodity price and currency fluctuations while providing a portfolio of components to manage the complete value chain of agricultural-based products, chemicals, softs and fuels.
Kevin Hesselbirg, CEO of OpenLink said, "dbc has established itself as a leader in the agricultural and soft commodity field by offering rich and high quality solutions to their clients. They fit well into our strategy of acquiring exemplar solutions companies to augment our existing business and extend our reach and solution set. dbc is an excellent complement to our current offerings; we will continue to invest in this sector and be responsive to the dynamic requirements of the industry."
Henry Bonner, OpenLink's SVP of Corporate Development, added, "Many deeper physical requirements of the agricultural and soft commodity markets are not adequately addressed by the ETRM/CTRM software community and this is an area in which dbcSMARTsoft excels. The dbcSMARTsoft solution will be further enhanced by OpenLink's Endur risk management tools and our Findur treasury solutions. In addition, we see tighter regulations coming into the sector, requiring not just improved risk management, but also auditability and traceability of food."
Maurice Boughton, Founder and President of dbc, will continue to manage the business, which will operate as dbcSMARTsoft, an OpenLink Company, with Andy Joakim remaining CTO. Maurice Boughton said, "In OpenLink, we have found our ideal partner; one who will help us continue to expand our offering globally and help our clients move to even more advanced levels of commodity and financial risk management. We are thrilled to be a part of such an impressive organization."
About dbc SMARTsoftware
dbc SMARTsoftware specializes in the development of Commodity Management, Merchandising and Grain Accounting software. With over three decades of expertise in the commodity-agribusiness industry, the company is located just outside of Toronto, Canada, an agricultural, technology, and financial hub.
The dbcSMARTsoft solution specifically includes: Commodity Management with Contracts, Tickets, Advances, Final Settlement, Accruals, Order Logistics, Debit/Credit Memos, Storage, Position Risk Management, Bin Management and Futures & Options. Also included are A/R, A/P, G/L, Financial Reporting, Inventory Costing, Production, Sales Order Processing, Sales Analysis, Purchase Orders, RIN processing, Brokerage and Contracts-Multiple Products.
Founded in 1992, OpenLink is a provider of cross-asset trading, risk management, related operations processing and portfolio management software solutions for the commodity, energy and financial services markets globally.
OpenLink's client base of more than 350 customers worldwide includes 12 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York and with offices in New York City, Houston, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 1000 employees worldwide.