SPL WorldGroup has announced a tender offer from GFI Energy Ventures for all of its outstanding shares. When the acquisition is completed, GFI will incorporate another of its investments, Synergen, Inc., into SPL. The series of transactions should conclude before the end of the year, pending regulatory and other approvals. Under the SPL brand, the combined company will offer a utility-specific application solution set that includes customer care and billing, asset management, mobile workforce management, outage management, and distribution management.
GFI is the majority shareholder of Synergen, the award-winning provider of asset management systems (the Synergen Series™) and mobile workforce management solutions (Mobility) to the utility and other asset-intensive industries. Integrating these applications with SPL's customer care and billing, outage, and distribution management systems will make the new SPL a company that can provide an integrated end-to-end solution for utilities.
Richard MacDonald, who founded Synergen in 1986 and will continue to lead the Synergen Series product within SPL, expressed strong satisfaction with the agreement.
The combined company will offer each major application both as a stand-alone product and as a product pre-integrated with one or more additional offerings.
GFI Energy Ventures LCC is a significant equity investor in established, industry-leading companies in the energy industry. Since 1995, GFI has originated more than forty investments in successful companies that provide systems, software, equipment and services primarily to the utility industry and related sectors.