Volue, a leader in technologies and services that enable its customers to succeed in the energy transition, has completed a deal to acquire PowerBot GmbH, a leading algotrading software provider based in Vienna.
The acquisition of PowerBot’s scalable and open platform complements Volue’s strong existing enterprise-grade trading solutions by addressing the needs of a growing class of quantitative power traders across Europe.
PowerBot is a certified Independent Software Vendor (ISV) at EPEX Spot, Nord Pool and various other European energy exchanges. The company will benefit from Volue’s resources and expertise to further accelerate its development and improve its customer experience over the coming years. Volue’s commercial teams will bring the PowerBot platform to existing customers across its portfolio.
On the deal, Trond Straume, CEO, Volue, said: “This deal is a significant milestone on the next stage of our growth journey. PowerBot’s innovative platform uniquely complements Volue Algo Trader Power by extending our offering to quants and accelerating our growth beyond Western Europe. Our firm objective is to become the leading SaaS provider to the global energy system by 2030 and this deal consolidates our already strong position.”
Roland Peetz, SVP of Volue Energy Software, said “All of us across our industry have admired PowerBot’s success in developing a scalable and modern trading platform. By adding PowerBot to our existing offering of industry-leading products, we create an unrivaled proposition to all our customers’ needs in a fast-moving power trading market.”
Helmut Spindler, CEO, PowerBot, said: “We have witnessed significant growth over the last few years and have been looking for a partner to back us in our next chapter. I strongly believe that there is no better partner than Volue with whom to embark on our next phase of growth. I, together with the whole PowerBot team, look forward to operating under the Volue umbrella. Today’s announcement is great news for energy traders across Europe and will deliver unrivalled performance in algorithm trading alongside a developer-friendly and scalable execution platform.”
The acquisition will see PowerBot employees join Volue. From January 2025, PowerBot will join Volue’s product portfolio.
