MCG Acquires Paragon Energy Software
We are proud to announce that MCG Energy Solutions has acquired Paragon Energy Software. Since 2006, Paragon has provided credit and risk management solutions to the energy industry. Adding Paragon's Credit and Energy Trading and Risk Management (ETRM) products to MCG's extensive portfolio of energy software offerings reinforces MCG's position as a growing leader in the energy software industry throughout North America.
By integrating Paragon's ETRM and Credit solutions with MCG's product portfolio, MCG will enable customers to leverage new credit and risk management functionality within their existing MCG operating systems.
"We are very excited to add Paragon's products and people to MCG's rapidly expanding footprint in the energy software space," said MCG’s co-founder and CEO, Mike Prickett. "Paragon’s offerings further extend MCG's focus on the middle office to complement our strong portfolio in the front and back offices."
"Joining forces with MCG will allow us to accelerate our growth by leveraging MCG’s SaaS expertise, data centers, and market strength in the North American electricity space" said Paragon's founder and CEO, Kevin Gerold. "Our combined software suite will enable us to provide a fully integrated SaaS offering that provides trading, scheduling, credit, risk and settlement functionality across a broad spectrum of energy market participants, including electric & gas utilities, energy marketers, pipelines, producers, and refineries."
Find out more at the Paragon Energy Software website.