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ENERGY ONE LIMITED — M&A Activity 2008
Oct 16, 2008
64860_rns_2008-10-16_41ad7ab5-f0a1-4b59-a6e6-466e5c5ab370.pdf
M&A Activity
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Energy One Limited Level 2, 122 Pitt Street Sydney NSW 2000 GPO Box 3968, Sydney NSW 2001 Telephone: +61 2 8252 9898 Facsimile: +61 2 8252 9888
Date: 17 October 2008
ASX Release
EOL to acquire UtiliSolutions
EOL has entered into a Sale and Purchase agreement with UtiliSolutions Pty Ltd to acquire assets of the company including the software and intellectual property developed by UtiliSolutions, and the existing customer contracts.
The acquisition will not have any material impact on EOL’s balance sheet with the transaction being paid for over the next two years from additional sales of the UtiliSolutions software. The transaction will be earnings accretive.
UtiliSolutions currently provides risk management and trading solutions to electricity retailers, hedge funds and financial institutions. The software, specifically designed for the energy market is one of the most feature rich Energy Trading and Risk Management (ETRM) solutions available in the Australian market. Built specifically for the energy sector, the software adds to the integrated portfolio of software solutions offered by EOL.
For further details please contact Joshua Rudd on 02 8252 9811