The acquisition is said to be ‘extremely complementary’ to Hansen’s existing utility billing business.
Specifically, it is expected to increase Hansen’s revenues by approximately 50 percent and grow the company’s local utilities billing customer base.
In addition, it will provide the company with what it called ‘a strong foundation market presence in the USA’ and ‘an extended product development capability in New Zealand’, according to managing director Andrew Hansen.
“Although we have historically competed in the same utilities billing space, Peace and Hansen have only rarely been in direct competition,” Hansen said.
“For Hansen, this purchase will represent not only a growth in our utility billing business revenues but it will also represent a positive expansion in our product range and areas of geographic influence.”
The company currently has operations in both Australia and the United Kingdom.
Hansen called the all-cash acquisition a major strategic move for the business.
“We have been communicating with our shareholders since we sold off our NSW outsourcing business that we are committed to achieving both organic and strategic growth in our core billing business,” he said.
“Our existing core billing business is performing extremely well.”
Hansen’s flagship HUB billing software solutions are said to be used across the telecommunication, electricity, gas and water industries globally.
Hansen grows local business, expands into USA
By Staff Writers on Oct 27, 2008 5:30AM