Earlier this week, I was contacted by Inatech to be briefed on an announcement it was making. Yesterday afternoon, I spoke with Fred Bendle, Chairman and CFO, and CEO, Jean-Hervé Jenn and was informed about its acquisition by Valsoft Corporation, for an undisclosed sum. “Glencore sold Inatech on June 1st,” Mr. Jenn told me. “Glencore’s objectives in the sale were to ensure the stability and longevity of Inatech as it moved into the next phase of its growth. It took this task very seriously as many of Inatech’s customers are Glencore counterparties,” he told me. Indeed, Mr. Bendle had retired from Glencore and taken the position of Chairman and CEO of Inatech as a part of the transaction and both Mr. Bendle and Mr. Jenn had signed 3-year contracts also as a part of the acquisition in order to assure continuity and stability. Valsoft is a Canadian serial acquirer of software businesses of a certain size. “It has a buy and hold strategy,” I was told. Inatech is the first acquisition by Valsoft in the energy vertical and so part of Inatech management’s role will also be to seek other synergistic vendors and products to acquire and build out an… continue reading
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