Hansen signs non-binding letter of intent

Company News

Hansen Technologies Limited (ASX:HSN) has executed a non-binding letter of intent with PPL Energy Funding Corporation to acquire PPL Solutions.
 
PPL Solutions 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 percent of the share equity of Solutions.
 
If the transaction proceeds, Solutions is expected to represent approximately 5 percent of the combined Hansen worldwide EBITDA.
 
Hansen recorded a net profit of $12.63 million at 31 December 2015.