DTN, a leading data, analytics and technology company, has acquired Online Fuels, the leader in digital transformation solutions for the refined fuels market.
The acquisition will allow DTN “to provide commodity buyers and sellers around the world a robust, transparent online marketplace that will deliver operational intelligence for better risk mitigation,” it said.
With the addition of Online Fuels’ innovative online trading platform, DTN is now the leading provider of solutions that bring visibility where it hasn’t existed before. It said: “In the near future, refined fuels customers will be able to access to their operational data in one seamless platform along with the ability to support end-to-end buying and selling transactions.”
The industry-leading solution solves a complex issue many commodity traders around the world face: how to complete transactions using real-time data to drive better profitability while also mitigating risk.
Many transactions today are logged in separate programmes or documents, leading to increased risks of human error. The end-to-end online marketplace – once added to the DTN suite of solutions – will alleviate that risk and allow customers to make confident decisions that impact their bottom line.
“Our customers look to DTN to not only make sense of their data and deliver operational intelligence, but also to do so through innovative solutions that support complex decisions and give their business a competitive advantage,” said Marc Chesover, president of DTN. “Adding the Online Fuels team and online trading platform to DTN solutions strengthens our ability to serve our customers around the world and solve a long-standing challenge of digitizing their buying and selling transactions.”
Once integrated, DTN will be able to seamlessly connect the buyers and sellers of commodities worldwide through a robust online marketplace. In the future, the company plans to leverage the Online Fuels technology and offer it to additional markets and industries.
For more information visit www.dtn.com
