Volue acquires Likron to create algorithmic trading powerhouse
Munich, 19th November 2020. Volue and Likron today announce agreement on the acquisition of Likron by Volue.
Henryk Pinnow, Managing Director: “We are pleased to announce that Likron will be part of the Norwegian green-tech group Volue AS going forward. As the Center of Excellence for Algo Trading for energy markets in Munich, Likron will contribute crucial and strategic elements to the future energy infrastructure of self-trading power plants and flexible energy systems.”
Likron was founded 10 years ago by Henryk Pinnow and Microstep AG in Munich, Germany. Its core value proposition is to bring deep trading expertise, state of the art IT and quantitative analysis to the short-term energy markets. Likron trading algorithms handle significant volumes in the continuous power and gas markets of EPEX, NORD POOL and Pegas. As an enduring innovator, Likron has successfully built a market leading business in the exceptionally dynamic space of trading solutions for highly automated short-term energy trading.
Roland Peetz, Managing Director, adds: “Likron together with Volue are ideally positioned to form a European champion by building on their respective businesses and relationships. We look forward to not only continue Likron’s path but to accelerate its growth and pace of innovation in areas that are highly relevant to the energy transition. We aim to offer mission critical solutions for the complete and increasingly complex value chain of volatile and flexible power generation, asset and portfolio optimization and energy trading by leveraging on our respective expertise and experience.”
“With the accretive acquisition of Likron we will further strengthen our offering within algorithmic power trading solutions in Europe. The Likron team pioneered algorithmic trading on the European Power Exchange and provides solutions perfectly complementing Volue’s power trading offering. By combining our joint capabilities, we will take the pole position in this rapidly growing and changing industry, “ says Trond Straume, Chief Executive Officer of Volue.
Volue is an international provider of business-critical software and technology services for the energy, power grid and infrastructure markets. The company provides decision-support for the market’s transition to robust, safe and sustainable services critical for society – from analysis, planning operations, asset management, to monetisation. Volue is there to realise flexibility, efficiency, resilience and value for its 2,000+ customers in 44 countries worldwide.