Lytica announces internal restructuring
With analytics and big data emerging as high growth market opportunities and Lytica’s component price prediction applications achieving a market leading position in analytics, Lytica’s Board of Directors elected to spin out Lytica’s consulting and services business into a new and separate company. Effective January 1, 2015, Silecta Inc., a newly formed corporation, began operations in supply chain consulting and services.
Lytica’s founder and chairman, Ken Bradley announced recently that Lytica Inc. would increase its focus on benchmarking and other unique analytic supply chain tools.
“This split is a natural evolution of our vision for Lytica. We have attracted many of the world’s largest and most prestigious companies as customers. They have become faithful users of our products and are demanding continuous evolution of our leading applications. Revenue from our analytic business grew in high double digits in 2014 and is forecasted to continue on this trajectory in 2015. The separation into two separate businesses allows greater management focus on growth and product development to serve our customers’ needs.” Bradley said.
Lytica’s VP of Sales and Marketing, Mark Tayles, was named CEO and president of Lytica. Lytica’s VP of engineering services, Tom McLeod, was named CEO and president of Silecta. Both are highly respected industry veterans. Ken Bradley will be chairman of both companies and chief technology officer for Lytica.
Newly appointed Silecta CEO, Tom McLeod explained that Lytica employees were apportioned to the companies consistent with functional roles. “As a testimony to our entire team and as proof that we’re delivering real and quantifiable value, customer retention on both sides of the business has been incredible. With the transfer of our supply chain operations business to Silecta, the new company will be able to focus even more on growing and developing services that deliver exceptional value. Lytica’s analytic tools have been a contributor to our success. Silecta will continue to be an enthusiastic user of Lytica’s unique technology.”
“Our analytics competitors have described our analytic products as unique, differentiated and highly impactful” says Mark Tayles, CEO of Lytica. “We must take advantage of our leadership position and capture our share of this exciting emerging market.”