May 10, 2016

Hansen Technologies Limited (ASX:HSN) is pleased to announce it has executed a non-binding Letter of Intent with PPL Energy Funding Corporation (a subsidiary of NYSE listed PPL Corporation) to acquire PPL Solutions, LLC (“Solutions”). Solutions, located in Bethlehem, Pennsylvania, provides billing services, business processing outsourcing and information technology services to competitive electric and gas suppliers and regulated utilities in the US.

Under the terms of the Letter of Intent, Hansen and PPL have reached an in principle agreement for Hansen to acquire 100% of the share equity of Solutions. Hansen’s decision to announce this non-binding Letter of Intent comes as a result of PPL’s obligation to discuss and disclose the potential sale of Solutions to both customers and staff. The acquisition remains subject to the satisfactory completion of due diligence, Board approval, the execution of a mutually agreeable Purchase and Sale Agreement, and other closing conditions. Subject to meeting these requirements, the transaction is targeted to close within the next 60 days. If the transaction proceeds, Solutions is expected to represent approximately 5% of the combined Hansen worldwide earnings before interest, tax, depreciation and amortisation (EBITDA), and the acquisition can be funded from Hansen’s internal cash resources.

 

About Hansen Technologies Limited
Hansen Technologies (ASX: HSN) is a global provider of customer care & billing, and meter data management software solutions for utilities (electricity, gas and water), Pay TV and telecommunications companies.The Hansen family of products, which has grown since 1971, includes: HUB, ICC, NirvanaSoft,Peace, Banner, naviBilling and Utilisoft. Hansen’s unique approach to best-fit solutions leverages its proprietary product sets to develop, deliver, and support high value solutions for clients globally. In addition Hansen also offers outsourcing and facilities management services from purpose built facilities. Hansen has offices in Australia, USA, New Zealand, China, Denmark, Germany, Argentina and the United Kingdom.

For further information contact
Mr Andrew Hansen
Managing Director
Hansen Technologies Limited
61 3 9840 3000

Mr Graeme Taylor
Chief Financial Officer
Hansen Technologies Limited
61 3 9840 3000