October 22, 2019
Utegration to Acquire HPC America to Promote the Future Direction of Finance and Regulatory Reporting across the Utility and Energy Sectors
October 22, 2019: San Diego, CA – Utegration, LLC and HPC America announced today at the SAP for Utilities conference that they have entered into a definitive agreement under which Utegration intends to acquire HPC America (Heck & Partner Consulting). Together, Utegration and HPC America intend to offer advanced professional services and solutions primarily focused on the utility and energy markets in North America.
Utegration, a leading North American technology consulting and solutions company, has been providing solutions to utilities for over 11 years. Although focused on addressing business needs across the utility, one of Utegration’s core competencies is helping utilities address regulatory reporting, asset and lease accounting needs through the Utegration Finance4UTM solution.
HPC America was established in 1994 and is the original developer of the “FERC module” still offered by a major global software provider. Since then, HPC has provided consulting services to utility companies around finance, 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.
“Having recently announced the availability of the Utegration Finance4U Property and Lease Accounting solution, it is very exciting to announce another significant milestone in our company’s history: the intent to acquire HPC America. Increasing our scale will further enable us to provide innovative solutions and alternative offerings to our clients at an accelerated pace. HPC and Utegration share a common reputation for excellence in delivery and customer service and a common culture that balances customer, colleague and shareholder interests,” says Bart Thielbar, President and CEO, Utegration.
“This strategic partnership will bring together two firms that have a shared vision focused on delivering industry excellence and advanced solutions that complement leading technology available in the market. The new offering will combine Utegration’s award-winning consulting practice, our Finance4U software suite, HPC America’s DECIPHER software solution, and over 35 years of combined consulting experience,” says Henry Bailey EVP and Chief Strategy Officer, Utegration.
“We are thrilled to join the Utegration family,” states Jerry Cavalieri, CEO of HPC America. “HPC America has had a long and successful history focused on leading technology for utilities ever since our major role in the first ERP implementation of its kind at a U.S. utility in the mid-1990s. We see a bright future together helping customers to make the most of their investments in new ERP technology by modernizing old financial processes, realizing the benefits of continuous accounting, and growing stronger in today’s far more stringent regulatory environment.”
The transaction is expected to close before the end of the calendar year.