Hansen buys Utilisoft Australia
March 14, 2013 – Hansen Technologies Limited (ASX: HSN) is pleased to announce the acquisition of Utilisoft Pty. Ltd., the Australian energy market software solutions subsidiary of the UK-based Utiligroup Ltd, with effect from 1 March 2013.Utilisoft Australia’s proprietary electricity and gas market access technology includes software solutions for real-time energy market interaction and transaction data management for generators, traders, retailers and other participants in the Australian energy market.
The acquisition of Utilisoft Australia and its proprietary software solutions is a strategic initiative for Hansen:
- Utilisoft’s software solutions are complimentary with and frequently interface into Hansen’s billing software and therefore represent an extension to Hansen’s billing and customer care product suite for the energy industry in the Australian market.
- Utilisoft’s 15 customers expands Hansen’s engagement with, and represents an extension of, Hansen’s ongoing commitment to the Australian energy market.
- With revenues exceeding $4 Million derived from the Australian market place Utilisoft represents a growth in Hansen’s $A designated revenue streams.
- International opportunities for the deployment of energy market solutions that leverage the Utilisoft technology and expertise will also be explored.
In announcing the acquisition, Andrew Hansen CEO said, “Hansen is the logical owner for the Utilisoft business in Australia. Their product offering, electricity and gas market industry focus and Australian customer base is entirely complimentary with Hansen. I am pleased we have been able to complete this acquisition and l look forward to the Utilisoft business, products and staff being quickly welcomed into the Hansen Group”. The purchase is being funded entirely from Hansen’s existing internal cash resources.