Auckland-based cloud-based billing solutions company Agility CIS is merging with Melbourne's Tally Group, a provider of next generation software-as-a-service (SaaS) software for energy retailers.
The deal will see the Agility business in Australia and New Zealand rebranded as Tally Group and Agility director Simon Moutter, the long-time CEO of Spark, promoted to chair.
The Tally Energy Platform brings together cloud-native technology with near zero touch SaaS enabled processes, that it said reduced the cost to serve customers and enabled energy providers to innovate and sell a range of products and services.
Tally has a client base with over 20 clients in Australia.
“Agility has deep domain expertise and a proven track record of success in providing solutions for competitive energy market providers around the world," said said Craig Jones, CEO of the newly combined group.
There are few opportunities to build a truly disruptive platform in a large market, transforming as fast as the global energy market” said Andrew Duncan, chairman and co-founder of Tally Group.
“We founded Tally to overcome the burden of bespoke, legacy software systems limiting the development of new energy services and impacting operational efficiency," he said.
"Our solutions are designed to meet globally diverse market and regulatory requirements to transform the relationship with energy providers."
Combining with Agility would accelerate that progress and take the solutions to the global market.
The combination of Agility and Tally followed Agility’s recent acquisitions of Znalytics, a SaaS provider to the energy sector in Japan and the United States, and Webtools Energy, a SaaS pricing and quote management software solution based in New Zealand and Australia.
Agility is backed by private equity companies SilverTree Equity and Pioneer Capital.
Nicholas Theuerkauf, managing partner of SilverTree Equity, said the investor was impressed with Tally’s technology and the strength of its team.
"The combination with Agility creates a global leader with modern cloud-native technology and the expertise to enable both residential and complex C&I energy suppliers to bring new and innovative products to market quickly and cost effectively," he said.