NuTech Solutions Acquired By Netezza
A Principal Of 7 Mile Advisors Acted As The Sell-Side Advisor to NuTech Solutions In Their Sale To Netezza
Netezza Corporation (NYSE Arca: NZ), acquired privately-held NuTech Solutions, the North Carolina-based provider of advanced predictive analytics and optimization solutions. This acquisition extended Netezza’s capabilities in advanced analytics by giving the Company greater intellectual property and expertise in this rapidly growing field.
“As companies continue to increase their focus on competing on analytics, we see a growing demand in the market for the infrastructure and tools to do these advanced analytics,” said Jim Baum, president and COO of Netezza, at the time of the acquisition. “By acquiring NuTech Solutions, we are not only getting the analytic expertise of 30 industry-leading scientists and engineers, but also a strong depth of knowledge across key and strategic vertical markets that will further enable our customers’ ability to gain strategic insight from their information assets.”
NuTech Solutions was founded on the cutting-edge work of several world-renowned scientists with a mission to develop truly dynamic technology solutions that could not only predict what’s coming next, but intelligently learn and adapt. According to Bud Whitmeyer, CEO of NuTech Solutions, “Netezza’s acquisition of our company joins the forces of two innovative companies to apply next-generation algorithms and models to maximize the growing volumes of data organizations collect.”
NuTech Solutions continued to serve its current and future customers as an independent division of Netezza. They have a presence in automotive, consumer goods, national security, petroleum/energy and natural resources, and continued their operations in Dortmund, Germany and Warsaw, Poland.
About NuTech Solutions
NuTech Solutions, Inc. delivers innovative solutions, powered by Intelligent Business Engines™ that forecast, optimize and learn – delivering insight and measurable results to Global 1000 companies. Our solutions are designed to solve complex problems in a variety of industries, including automotive, consumer goods, petroleum/energy, natural resources and national security.
Based in Charlotte, N.C. and with offices around the world, NuTech Solutions’ clients include General Motors, BMW, Oxy, Beiersdorf, BB&T, Ford Motor Company, ChevronTexaco, Air Liquide and many U.S. Government Departments and Agencies, including the Department of Defense. For more information call (704) 943-5400or visit www.nutechsolutions.com.
About Netezza Corporation
Netezza is the global leader in data warehouse and analytic appliances that dramatically simplify high-performance analytics for business users across the extended enterprise, delivering significant competitive and operational advantage in today’s information-intensive marketplaces. The Netezza Performance Server® (NPS®) family of streaming analytic™ appliances brings appliance simplicity to a broad range of complex data warehouse and analytic challenges. Customers who have realized the benefits of Netezza appliances include Ahold, Amazon.com, CNET Networks, Debenhams, Department of Veterans Affairs, Epsilon, Nationwide, Neiman Marcus, Orange UK, Premier, Inc., Ross Stores, Ryder System, Inc., The Carphone Warehouse, The Sherwin-Williams Company and Virgin Media. Based in Framingham, Mass., Netezza has offices in Washington, DC, the United Kingdom and Asia Pacific. For more information about Netezza, please visit www.netezza.com.
A Principal of 7 Mile Advisors acted as the sell-side advisor to NuTech.
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