Australian billing solutions company Hansen Technologies has bought Banner CIS, the utilities billing and customer care division of industrial software provider Ventyx.
Banner CIS software products will complement Hansen’s existing billing and customer care solutions for the utilities market in North America, and adds a water supply segment to the deep portfolio of existing customers in the gas and electricity markets, Hansen confirmed.
Banner CIS customers are located in over 30 states throughout the USA, as well as Canada and the Caribbean.
Andrew Hansen, CEO of Hansen, said: “This acquisition brings us a strong team, with specialised domain knowledge, and an established product in the water and municipal market.”
The Banner CIS business is expected to represent in excess of 10 per cent of the combined Hansen global revenue.
The purchase is being funded from a combination of Hansen’s internal cash resources and existing third party debt facilities.
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