U.S. Markets close in 2 hrs 52 mins

PowerPlan Inc Acquires Riva Modeling Systems Inc

ATLANTA, GA--(Marketwired - February 08, 2016) - PowerPlan, the leading provider of regulatory, tax, and budgeting solutions for asset-centric businesses, today announces it has completed the acquisition of Riva Modeling Systems Inc., the leader in asset management planning and asset investment planning solutions used by utilities and the public sector around the world.

Balancing financial constraints, risk tolerance, and performance obligations with regulatory requirements and financial goals is the key to success for asset-centric organizations around the globe. With the combination of PowerPlan and Riva, asset-centric companies and the public sector can now benefit from a holistic solution that combines financial, operational and regulatory optimization across the entire financial asset life-cycle while balancing operational risks. The integrated solution will provide complete visibility starting with asset management planning, asset investment planning, and budgeting through project execution to cost control and eventual retirement.

"The addition of Riva strengthens PowerPlan's ability to tie individual asset plans to our customers' overall strategic goals, driving financial optimization while creating regulatory transparency and credibility," said Charles Goodman, PowerPlan CEO. "We are excited to have the Riva employees and customers now as part of the PowerPlan team. We look forward to continuing to serve the asset-centric markets who rely on both solutions."

"PowerPlan is a great fit for the Riva team and our customers," said Ian Woodbury, Riva Modeling CEO. "Both companies are committed to solving the complex problems faced by asset-centric companies and we share core values focused on driving collaboration and customer success."

For more information about PowerPlan's Asset Management Planning Suite and Asset Investment Planning Suite, visit www.PowerPlan.com.

About PowerPlan

PowerPlan solutions empower asset-centric companies to balance financial constraints, risk tolerance, and performance obligations with regulatory requirements to meet their strategic goals. The public sector, utilities, midstream oil and gas, transportation and telecommunications companies trust PowerPlan to manage more than $2.3 trillion in assets today. For more information email info@powerplan.com or visit www.powerplan.com.

The following files are available for download: