On the heels of a very successful 2014, Ottawa-based analytics company Lytica has announced it has spun off its supply chain consulting and services operations into a separate business called Silecta.
Silecta officially came into existence Jan. 1.
“Realistically we will be co-dependent throughout most of Q1 2015, but legally separate from January 1st,” Lytica founder and chairman Ken Bradley said in a statement. “In business, change is inevitable, change for growth is exciting.”
Revenue from the company’s analytic business grew in “high double digits in 2014” and is expected to continue that path this year, he said.
“The separation into two separate businesses allows greater management focus on growth and product development to serve our customers’ needs,” Mr. Bradley said.
That means Lytica will now spend more time on its benchmarking tool that allows clients to determine how competitive their pricing is compared with their competitors, or how much they should be paying for necessary supplies.
Lytica’s vice-president of sales and marketing, Mark Tayles, has moved to the role of Lytica president and CEO. Tom McLeod, former Lytica vice-president of engineering services, is Silecta’s first CEO. Mr. Bradley is chairman of both companies and chief technology officer for Lytica.