MC - $2m
SP - 10c
Shares - Approx 20m
Options - ?
Cash - $1.95m
Energy One is Australia’s leading provider of ETRM solutions, with software product and service solutions for wholesale and retail energy businesses, including carbon and environmental certificate trading and management needs.
Energy One Limited acquires the Web Offer System (WOS) business, Australia’s leading energy market bidding software.
Energy One is pleased to announce that it has acquired the assets, business and existing customers of the company HARD Software Pty Ltd, including the Web Offer System (WOS) software and intellectual property.
The WOS system is Australia’s leading energy bidding software platform, enabling the bidding of multi-billion dollar electricity transactions into the National Electricity Market (NEM) on a daily basis. This is a mission-critical activity for generators in the NEM and WOS is the trusted and proven platform used by many of Australia’s largest energy companies.
The acquisition is mutually beneficial for both Energy One and for HARD Software. Energy One has a strategy of growth through targeted acquisition and HARD Software was keen to form a strategic alliance to further develop the platform and to enhance services to its major clients.
Managing Director of Energy One, Shaun Ankers commented: “We are very excited to welcome the WOS software to our product suite. Energy One prides itself on being the premier supplier of integrated, enterprise-level energy software solutions to Australian energy customers and this acquisition enhances our position as a key supplier to the major energy businesses, many of whom are ASX200 companies”.
Dr Harley Mackenzie, Managing Director of HARD Software, said: “We have developed WOS over a number of years to become the market’s leading electricity bidding solution. We were keen to find a purchaser who would take the software solution to its next logical step, whilst maintaining the high levels of support with which our customers are familiar. Energy One’s suite of energy related software products and services, plus their commitment to the Australian market, made them an ideal choice for the future growth and development of the software”.
Dr Mackenzie will remain closely connected with the newly acquired business on an ongoing basis. “We are pleased that Harley will help to provide unbroken support for existing WOS customers and will help us to develop and innovate new products to meet the needs of our customers in a carbon-constrained economy”, said Mr Ankers.
The acquisition is earnings accretive and is funded via cash and future earnings.