SunGard Trading and Risk Systems has stepped up its interests in the energy trading market with the acquisition of Houston-based systems integration and consultancy firm EnForm Technology for an undisclosed sum.
EnForm builds custom software applications for the Fortune 1000, focusing on the energy and telecommunications industries. Its offering includes the creation and integration of high-performance online exchanges, credit systems, retial systems and management control systems.
Under the deal, EnForm will be an independent operating unit of SunGard, offering synergistic products and services to the energy division of SunGard Trading and Risk Systems.
John McNevin, founder and chief executive officer of EnForm, will be president of the EnForm operating unit, reporting to Bill Popp, executive vice president, Energy, SunGard Trading and Risk Systems. Doug Wendler, currently responsible for sales and delivery at EnForm, will serve as chief operating officer.