Hansen buys CIS Business in North America
May 16, 2014 – Hansen Technologies Limited (ASX: HSN) is pleased to announce the acquisition of Customer Suite (Banner CIS), the utilities billing and customer care business of Ventyx, with effect from 16 May 2014.
The Banner CIS solutions complement Hansen’s existing billing and customer care solutions for the utilities market in North America and adds a water billing segment to the deep portfolio of existing customers in the gas and electricity markets. Banner CIS customers are located in over 30 states throughout the USA, as well as Canada and the Caribbean.
The acquisition adds 33 subject matter experts to an already strong North American team that now numbers over 100 staff, providing an increased depth, breadth and range of services in North America.
Ventyx and Hansen have also entered into a Teaming Agreement in support of existing shared customers and future opportunities.
The Banner CIS business is expected to represent in excess of 10% of the combined Hansen worldwide revenue, and will be immediately earnings accretive.
The purchase is being funded from a combination of Hansen’s internal cash resources and existing third party debt facilities.