Agility CIS, a leader in cloud-based billing solutions has entered into an agreement to merge with Tally Group (Tally), a fast-growing provider of next generation SaaS software solutions for energy retailers. The merger will see the Agility business in Australia and New Zealand rebranded as Tally Group.
Tally reinvents how energy retailers operate, enabling an outstanding customer experience far beyond billing. The Tally Energy Platform brings together leadingedge cloud-native technology with easily understood, near zero touch SaaS enabled processes that reduce cost to serve whilst enabling energy providers to innovate and sell a range of products and services relevant to our energy future. Tally has an impressive and rapidly expanding client base with over 20 clients in Australia.
Craig Jones, CEO of the newly combined group, commented:
“Agility has deep domain expertise and a proven track record of success in providing solutions for competitive energy market providers around the world. With Tally Group, we combine industry experience with the most modern technology platform in the industry, helping to make a highly complex requirement a simple experience for energy customers”.
Andrew Duncan, Chairman and co-founder of Tally Group, commented:
“There are few opportunities to build a truly disruptive platform in a large market, transforming as fast as the global energy market. We founded Tally to overcome the burden of bespoke, legacy software systems limiting the development of new energy services and impacting operational efficiency. Our solutions are designed to meet globally diverse market and regulatory requirements to transform the relationship with energy providers. By combining with Agility, we accelerate our progress and take our leading technology and solutions to the global market.
The combination of Agility and Tally follows Agility’s recent acquisitions of Znalytics, a fast-growing SaaS provider to the energy sector in Japan and the United States, and Webtools, a best-of-breed SaaS pricing and quote management software solution.
Agility is backed by SilverTree Equity and Pioneer Capital, leading investment firms with deep experience in growth and technology focused businesses. Nicholas Theuerkauf, Managing Partner of SilverTree Equity, adds:
“We are impressed with Tally’s innovative technology and the strength of the 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.”
Agility is also delighted to announce that Simon Moutter will become Chairman of the new group. Simon is already an Agility Board Member and was formerly the CEO of two NZX 50 companies, Spark New Zealand and Auckland Airport. Simon also has a history in energy market leadership positions.
About SilverTree Equity
SilverTree Equity is a sector specialist private equity firm. SilverTree invests exclusively in software, technology, and technology-enabled businesses. The firm is differentiated by its focus on value creation, sector specialism, and a deep network of operational resources and industry relationships. The SilverTree team has successfully completed or been involved in over 50 transactions. For more information, please visit www.silvertree-equity.com.
About Pioneer Capital
Pioneer Capital is a leading New Zealand private equity firm. The firm has invested in more than 20 companies and made over 18 bolt-on acquisitions with a focus on accelerating growth via international expansion. Pioneer Capital has a track record of partnering with owners and managers to build sustainable value. Pioneer Capital is based in Auckland and manages capital on behalf of some of New Zealand’s leading institutional and private investors. For more information, please visit www.pioneercapital.co.nz.