Norway's Volue acquires German algo-trading firm Likron

Volue ASA

19/11/2020 11:44

OSLO, Nov 19 (Reuters) - Norwegian energy markets technology
provider Volue  VOLUE-ME.OL  has acquired Germany-based
algorithmic power trading firm Likron for an undisclosed sum, it
said on Thursday.
    The transaction is expected to close during the fourth
quarter of 2020, Volue said without divulging financial details.
    "The Likron team pioneered algorithmic trading on the
European Power Exchange and provides products perfectly
complementing Volue's power trading offering," Volue Chief
Executive Trond Straume said in a statement.
    Power trading is becoming increasingly complex amid the
ongoing transition to carbon-free energy production, requiring
more digital solutions, he said.
    Volue, a subsidiary of Arendals Fossekompani (AFK)  AFK.OL ,
focuses on software as a service for the energy markets and was
formed earlier this year to combine several AFK subsidiaries
covering analysis, planning operations, asset management and
monetisation.
    Likron was one of the first service providers for
algorithmic intraday energy trading on the European Power
Exchange EPEX and Nord Pool.
    The share of algorithmic trading in short-term power markets
has risen rapidly in recent years in line with a higher
proliferation of intermittent generation sources.

 (Reporting by Nora Buli, editing by Terje Solsvik)
 ((Nora.Buli@thomsonreuters.com; (+47) 21 04 05 56; Reuters
Messaging: nora.buli.thomsonreuters.com@reuters.net))