Utility and airport management software company Gentrack Group is acquiring UK-based utility customer information and billing system provider, Junifer Systems.
Auckland-based NZX/ASX dual-listed Gentrack will pay $74.6m (£42.0m at a NZD/GBP foreign exchange rate of 0.5632) for Junifer under an unconditional agreement.
Junifer supplies energy retailers in the UK, claiming 25 existing customers out of approximately 50 energy retailers in that market. Its technology is provided as-a-service to offer new entrant utilities a cost effective solution.
The combined Gentrack and Junifer business will be the market leader in the UK by number of customers, with 32 customers, supported by 130 local staff, Gentrack said.
John Clifford, Gentrack Chairman said the combined UK business will operate under the leadership of Junifer CEO Saul Nurtman.
Ian Black, Gentrack CEO said the acquisition of Junifer delivers us the full range of product functionality from Software-as-a-Service (SaaS) billing for new entrant energy and water retailers, to cloud hosted and on premise solutions for the largest utility players.
“The combined product offering of Gentrack Velocity and Junifer CIS is well positioned for growth, capitalising on the growing market share of Independent energy retailers, the UK smart metering roll-out, and retail competition in water for commercial and industrial consumers,” he said.
“Gentrack will also take Junifer CIS into other geographic markets as a solution for new entrant and SME retailers."