Utegration Completes the Acquisition of HPC America, Originator of the "FERC Module"
Combined organization brings increased scale, enables accelerated pace of innovative offerings and solutions to simplify the current complexities of energy and utility regulatory reporting
HOUSTON, Jan. 21, 2020 /PRNewswire/ -- Utegration, LLC announced today that it has completed the previously announced acquisition of HPC America (Heck & Partner Consulting). The acquisition supports Utegration's focus on utility best practices in regulatory reporting, to help ensure their clients are able to address the everchanging regulatory landscape and increasing numbers of stakeholders and move successfully to the future.
HPC America is the original developer of the "FERC module" still offered today by a major global software provider. In addition to providing best-in-class finance, accounting and regulatory solutions and services, HPC has provided consulting services to utility companies for CRM and billing, and work management. HPC has also continued to innovate software, most recently with its HPC DECIPHER® add-on solution, which helps utilities to meet their regulatory reporting obligations faster and with more defensible data.
Utegration is a leading North American technology consulting and solutions company, focused on the utilities industry. One of Utegration's core competencies is helping utilities address regulatory reporting, asset and lease accounting needs through the Utegration Finance4U™ solution. As part of the acquisition, HPC America solution sets—including DECIPHER, Utility Financials Accelerator (UFA), and Journal Entry Transfer Solution (JETS)—will become part of the Utegration Finance4U portfolio.
"We are pleased to welcome the talented team at HPC America to the Utegration family. Now that we've completed the acquisition, we're ready to quickly move forward to help our customers achieve a level of efficiency in regulatory reporting that drives real value," said Bart Thielbar, President and CEO, Utegration.
Jerry Cavalieri, previously CEO of HPC America, has been named Managing Director for Regulatory Reporting at Utegration. "The entire HPC team is thrilled to be a part of Utegration; it's a world-class organization," said Mr. Cavalieri. "Helping clients simplify the complexities of regulatory reporting has always been our priority. As part of Utegration, we multiply these capabilities. Together, we bring over 35 years of experience, unsurpassed expertise and delivery excellence, and an even greater focus on advanced solutions that complement leading technology available in the market."
"Combining our two companies couldn't have come at a better time in the industry," said Henry Bailey, EVP and Chief Strategy Officer at Utegration. "More utilities have started to scrutinize regulatory reporting functionality in the last 12 months than in the entire past decade. Joining forces with HPC America allows Utegration to increase our scale so we can provide innovative solutions and alternative offerings to our clients at an accelerated pace. Our strategic plan is already being executed at a number of customers."
About Utegration:
Utegration is a Houston-based full-service PartnerEdge consulting and solution provider specializing in analytics and SAP technology for the utilities industry. Our industry experts have earned the trust of electric, gas and water utilities across North America with our outcome-driven roadmaps and a track record of flawless implementations. Utegration optimizes new technology for finance, customer management and asset operations to maximize our clients' return on investment, while minimizing risk and complexity. Before you implement new technology, talk to Utegration. See how we can make the future work for you. Learn more at www.utegration.com
SOURCE Utegration
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