Covalence

Let's Share

Massive change in the ETRM industry. Then silence.

There were rumors starting in early March about Welsh Carson starting to shop Triple Point Technologies, which they acquired in 2011. The initial speculative buyers included people like Oracle and IBM. Triple Point was estimated to be at a $75M EBITDA and, according to their website, has 400 customers in over 35 countries.

Yet, around July 13th, Triple Point Technology was not acquired by a tech behemoth, but by ION Investment Group, a Dublin-based group owning ION Trading Technologies and Wall Street Systems.

So...why have there been no press releases from either company or any news in the market? Patrick Reames writes, "So, what are the implications for the company and their customers? Without an official statement from Triple Point or ION, it's hard to say for sure...". And he goes on to speculate (and I agree) that it is probably because they want to signal that there won't be any change in their operations and they will continue to pursue their existing strategy. Sounds reasonable enough.

But, what I'm wondering is, why isn't there more buzz around this? Do TPT's 400 customers care? Feel free to post your thoughts in the comments below.