Deloitte has acquired substantially all of the assets of Altos Management Partners, Inc., a consultancy to energy companies that was founded in 1995, as well as those of MarketPoint, Inc., an Altos sister company best known for MarketBuilder, an analytic suite for energy market modeling and price forecasting.
The acquisition will provide Deloitte's clients with the ability to gain a better understanding of market fundamentals for energy commodities, including oil, gas, refinery products, electricity and coal.
"Supply, demand and price analytics are critical to energy companies," said Greg Aliff, vice chairman and U.S. energy and resources sector leader, Deloitte LLP. "In order to be leaders, these companies must understand the future better than their competitors and act first. The acquisition of Altos and MarketPoint, combined with Deloitte's existing solutions and services, will provide our clients with tools and services to improve their planning for future markets, enabling them to act faster and more comprehensively with greater confidence, and giving them a leg up in an increasingly competitive market."
Andy Dunn, a partner at Deloitte & Touche LLP, explained that the acquisition is the foundation for a newly created offering named Deloitte MarketPoint, which is located within the Deloitte Center for Energy Solutions. Dunn, who will manage Deloitte MarketPoint, said the acquisition "will allow Deloitte to provide the energy industry with decision support solutions, including MarketBuilder, its models and data, in addition to consulting services."
As part of the acquisition, Dale Nesbitt, Ph.D., has joined Deloitte. Nesbitt founded MarketPoint in 1995 and is well known in the energy industry for his market analysis modeling tools, including the North American Regional Gas Model, the World Gas Trade Model, the World Oil Model, the Western European Gas Model, and the North American Regional Electricity Model. MarketPoint's models have been widely used by companies in the North American energy industry, as well as in energy markets in Europe, Asia, the Middle East, South America and Australia.
According to Nesbitt, "The success of MarketPoint, combined with the strength and quantitative experience of Deloitte, will bring a wide array of advanced analytics services to energy and resources companies of all varieties."