Volue closes the acquisition of German ProCom GmbH and strengthens its position as the leading technology provider for the European energy industry, offering products and services along the entire clean energy value chain.
Oct 1, 2021
The agreement to acquire 100% of ProCom GmbH was announced in July and closed on October 1 according to plan. Volue will add three million euros in annual recurring revenues, approximately 60 employees, and over 60 customers to its business through the acquisition.
"The acquisition of ProCom strengthens our position in the segment of small and medium-sized power producers and will give us a stronger footprint in Germany, Austria and Switzerland," says Trond Straume, Chief Executive Officer of Volue.
ProCom is headquartered in Aachen, Germany and has offices in Cologne and Berlin. With a proud heritage as a family business, ProCom has provided leading technology solutions for more than 40 years to the energy sector and adjacent industries.
"Volue has an ambitious growth and expansion strategy. ProCom plays an essential role in achieving our goals. We look forward to working with the ProCom team in expanding their offering and market presence in this growing and changing industry, "says Straume.
A joint ambition is to reduce carbon emissions and accelerate the green transition. "Like Volue, ProCom is committed to ensuring the efficient use of scarce resources while increasing resilience for its clients, "says Straume.
October 1 marks the first day of a 100-day post-merger integration program designed to ensure business continuity for ProCom's customers and people. The program's goal is to begin taking advantage of synergies between ProCom and the rest of Volue and prepare the rebranding of ProCom, while securing the availability and further development of core products like BoFiTt, a tool for production planning and optimisation and considered as an industry standard for many European clients.
Volue ASA (Volue, OSE: VOLUE)
Volue is a market leader in technologies and services that power the green transition. Based on 50 years of experience, Volue provides innovative solutions, systems and insights to industries critical to society. Over 650 employees work with more than 2000 customers across energy, power grid, water and infrastructure projects that ensure a sustainable, flexible and reliable future. The company is headquartered in Oslo, Norway and is active in 40+ countries. www.volue.com
ProCom GmbH offers consultancy and IT tools throughout the whole energy value chain, from energy production to trading. The Procom solutions help to make processes and energy portfolios, in all time horizons and markets Procom operates, to be more transparent and forecast optimally. With these and other energy-related aspects, ProCom is making an essential contribution to energy transformation. www.procom.de