Transpower’s IT-intensive subsidiary, D-Cypha, is divesting itself of some “non-core” interests following a change at the top.
“The board of D-Cypha and the board of [100% owner] Transpower jointly decided that D-Cypha should realign itself into core areas,” says Andrew Tombs, project manager for the divestment exercise.
D-Cypha is selling off its activities in metering the time and use of electricity, information gathering aimed at electricity retailers, and its data servicing activity, whereby it submitted data on behalf of electricity retailers to the national reconciliation system. It's also selling other “data administration” functions and its leasing of assets such as meters.
These activities, which some computer industry sources characterise as the more “entrepreneurial” side of the operation, evolved under former chief executive John Field, who left the company – voluntarily, Tombs confirms – about six weeks ago.
Transpower’s general manager of business development, Kevin Duckworth is, for the present, managing D-Cypha.
The company is preserving its activity in national reconciliation of payments within the electricity industry’s complex web, in metering at exit points from the national grid and in network billing. It is also retaining its D-Cypha Map geographic information services (GIS) operation and D-Cypha Trade, which runs secondary and derivative trading on international commodity markets, primarily in energy.
Subject to an acceptable offer or offers for the divested businesses, D-Cypha says the sale process will conclude by mid-September.