SYDNEY, AUSTRALIA: Hansen Technologies Limited (ASX: HSN) has announced that it has acquired 100% of the security interests of powercloud GmbH for an equity value of EUR 30m (~AUD $49m).
powercloud GmbH is a leading provider of billing and customer management software products for utility companies and regional municipalities in Germany.
According to a company announcement, the acquisition is expected to boost Hansen’s revenues by approximately EUR 24-28m (AUD $40-46m) in FY25 and become EBITDA accretive within the same financial year.
The acquisition also expands Hansen’s scale and scope in the utilities sector and strengthens its presence in the German and DACH markets, where it already has existing tier 1 and 2 customers.
Hansen’s Managing Director, Andrew Hansen, said, “Hansen recognises and applauds the visionary approach that powercloud has adopted. powercloud has developed a flexible, modern and cloud-native platform that addresses the needs of energy retailers in the German marketplace.”
powercloud’s products provide a high degree of automation, configurability, stability and scalability. powercloud’s modern, flexible, and modular cloud native billing and regulatory processes help their customers dramatically reduce time to market and cost to serve.
The acquisition comes at a time when the German government is seeking to accelerate the rollout of smart meters and has announced a proposed law that enables a large-scale smart metering rollout to start immediately before becoming mandatory from 2025 and provides a roadmap with binding deadlines to achieve an essentially full rollout by 2030.
Hansen said, “Hansen is excited by the products and skills of the powercloud team. Hansen looks forward to welcoming powercloud GmbH as a key product suite of the Hansen Group and working with the team at powercloud and their customers to continue to deliver innovative, industry leading and flexible solutions.”