January 14, 2013 – Hansen Technologies Limited (ASX: HSN) is pleased to announce the acquisition of the Pay TV billing and customer care product (“ICC”) line of Irdeto Inc. with effect from 1 January 2013. Irdeto Inc., a leader in conditional access and security solutions for the media and entertainment industry, is a wholly owned subsidiary of Naspers, a multinational group of media and e-commerce platforms listed on the South African stock exchange (JSE: NPN).
The acquisition of the ICC billing software suite of products represents a complementary addition to Hansen’s existing billing and customer care business solutions in the telecommunications market and extends Hansen’s activities into the media and entertainment industry. In particular, Hansen expects its telecommunications billing experience to be valuable to ICC’s Pay TV customers as they move from a one-screen household model, to a multi-screen model incorporating the internet, mobile tablets and smartphones.
ICC’s customers are located in over 40 locations around the world, with a growing involvement in new emerging markets. With offices in Carlsbad, California and Shanghai, China and personnel strategically located in Argentina, South Africa, India and the Netherlands, ICC represents an extension of Hansen’s geographic areas of influence, representing the potential for Hansen to leverage its broader business activities and products into these new markets.
After integration ICC is expected to represent 25% of Hansen’s total revenues. Initially the acquisition of ICC is expected to be marginally earnings accretive with the expectation that after a settling in period the EBITDA and cash return generated will steadily increase.The purchase is being funded entirely from Hansen’s existing internal cash resources.