News : Hansen Signs Agreement to Acquire PPL Solutions
New York, NY, USA, July 5, 2016 -- Hansen Technologies Limited (ASX:HSN) is pleased to announce its subsidiary has executed definitive agreements with PPL Energy Funding Corporation (a subsidiary of NYSE listed PPL Corporation) to acquire PPL Solutions, LLC ("Solutions"). This follows the announcement on 10 May 2016 that the parties had signed a non-binding Letter of Intent. The transaction will settle later today in New York, and is subject to customary closing conditions.
Headquartered in Bethlehem, Pennsylvania, Solutions provides billing, business processing outsourcing ("BPO"), call centre and information technology services to competitive electric and gas suppliers and regulated utilities in the U.S. The business has 230 staff, with the majority of these located at Solutions’ call centre facility in Hazleton, Pennsylvania.
The Solutions business adds business process outsourcing, customer care and Software-as-a-Service to Hansen’s strong portfolio of Electricity, Gas and Water products. This will position Hansen to sell to a segment of the market not previously addressable, and will provide a solution for new market entrants.
In addition, Solutions will add operational and billing subject matter experts to an already strong North American team, enhancing Hansen’s reputation as a thought leader in the utility billing systems market.
Posted by Veronica Silva Cusi, news correspondent
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Published: Wednesday, July 6, 2016