Cary-based SAS (www.sas.com) has acquired Canada-based RiskAdvisory, a provider of risk management consulting and software to energy companies. Financial terms of the deal were not disclosed. With this acquisition, SAS extends its risk management domain expertise and software offerings through the addition of a team of risk experts and technology that complements existing risk management offerings. RiskAdvisory's four principals will join SAS, adding more than 65 years of experience in energy trading to SAS' risk management domain expertise.
The acquisition is SAS' seventh since 2000, demonstrating the company's acquisition strategy of enhancing its existing capabilities with technology and domain expertise rather than simply buying companies to grow market share, officials said. The acquisition of RiskAdvisory comes six months after SAS' June 2003 acquisition of OpRisk Analytics, another risk management company.
SAS is a CED member.