Optimation has bought out Indian development partner Satyam Computer Services, which helped it develop its Equip energy billing engine.
Optimation originally went into a 50-50 partnership with New York Stock Exchange-listed Satyam Computer Services because it need a major injection of capital to develop the complex product, which was conceived here in New Zealand.
It is now working through the economics of relocating all software development work here and will recruit local staff to continue development of the software in New Zealand.
“We will bring the architecture and functional and technical development to New Zealand,” says Alistair Owens, Optimation director and utilities group head. “We’re working through the economics of bringing the code-cutting here.” The Indian-based team has had as many as 30 people working on Equip.
Owens says the buy-out of Satyam’s shareholding gives Optimation full control of the intellectual property of a valuable and innovative product.
“Equip is already used to bill more than 50% of the market share of the major energy users in New Zealand,” he says. Equip is used by the energy companies to bill their large users.
Owens describes Equip as a modern, complex billing product in what is a green-screen dominated market.
“Energy companies that do not understand and leverage the benefits of modern technology architectures will become increasingly disadvantaged compared to their competition,” he says.
“We expect to build our position in the New Zealand market and take the product global within two to three years.”