Banyan Software, Inc., a company focused on acquiring, building, and growing great enterprise software businesses, is excited to announce the acquisition of SoftSmiths. SoftSmiths is focused on providing the electricity and natural gas industries with cloud-based solutions that lower costs, reduce risk, and automate administrative processes.
Headquartered in Houston, Texas, SoftSmiths delivers solutions that facilitate energy forecasting, pricing, trading, risk management, scheduling, settlement, reconciliation and decision support functionality for today’s load serving, energy marketing, and energy consuming organizations. SoftSmiths is committed to addressing the energy market’s digitalization, de-marginalization and decentralization challenges.
The approach paves the way for the industry to address the move to a greater concentration of distributed and renewable generation while supporting both smart grids and microgrids for high resiliency and reliability and energy efficiency. SoftSmiths’ solutions empower customers to make faster, more informed decisions that improve profitability and operational efficiency.
“SoftSmiths has proven that their product offerings have had a significant impact on the ability of energy market participants to manage energy risk and costs. We’re excited to welcome the team to Banyan and are looking forward to supporting the business in this next phase of growth.”
“Our team and our customers were always at the top of the priority list as we started to think about what was next for the business. We’re confident that we found the right partner in Banyan to support us into the future and I’m looking forward to continuing to be a part of it.”
About SoftSmiths. Founded in 1997, SoftSmiths delivers cloud-based solutions to the electricity and natural gas industries that lower costs, reduce risk, and automate administrative processes. By leveraging a modern technology platform, SoftSmiths is helping to pave the way in addressing the energy market’s digitalization and decentralization challenges. For more information, please visit: softsmiths.com
About Banyan Software, Inc. Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies. Founded in 2016, Banyan is backed by a world-class group of CEOs and investors with deep technology experience and currently operates across a growing number of verticals.