Global provider of catalogue-driven software, Sigma Systems, announced today that it is being acquired by Hansen Technologies for an undisclosed sum. Hansen is a specialist in billing, data management and customer care solutions for the energy, water, pay-TV, and telecommunications industries.
On closing the sale, scheduled for May 31, 2019, publicly-traded Hansen will acquire full ownership of Sigma Systems. Hansen Technologies is listed on the Australian Stock Exchange (ASX:HSN).
Explaining the deal, a Sigma spokesperson says, “In today’s highly disruptive environment, service providers are focusing on how to accelerate product and service innovation, transforming their businesses into digital organisations that can more effectively create new innovative offerings, sell them without friction in the customer’s channel of choice, and deliver those services as promised. From digital service innovation through to revenue realisation and customer support, the acquisition of Sigma and the resulting combined product offerings of the two companies will further strengthen and expand the value proposition across the telecom, media, IoT (Internet of Things), energy and utilities industries we serve.”
The combination of these two fast-growing companies is designed to create a stronger organisation with greater expertise, a deeper bench of talented delivery specialists, expanded research & development (R&D) scale, and a broader diversification of the business across industry verticals.
Andrew Hansen, chief executive officer of Hansen Technologies comments: “It’s with great enthusiasm that I welcome Sigma Systems to the Hansen Technologies Group. The acquisition represents a strategic move to enhance our value proposition to the telecom, pay-tv and energy verticals. Over the course of the last 10 years, we have driven an exceptional growth strategy through acquisitions, achieving a compound annual growth rate of 28% over the last four years. Bringing Sigma Systems on board further strengthens our ability to provide valuable solutions to our customer base, and creates new expansion opportunities to cross-sell Sigma’s software solutions into our broad base of energy customers.”
Tim Spencer, Sigma Systems; chief executive officer comments: “With over a 23-year history serving the needs of the telecom industry, it is with great pride that we move to the next chapter in Sigma’s history. In the last year, Sigma has been pursuing an aggressive growth strategy through increased focus on product and cloud adoption, growth through adjacent verticals, and an enhanced go-to-market partner strategy.
“The acquisition of Sigma by Hansen Technologies represents two strong companies coming together, a strong combined value proposition, and the acceleration of the Sigma strategy.” Spencer adds, “We look forward to the new opportunities in front of us to drive value for Sigma and Hansen customers and shareholders of the company.”
The acquisition of Sigma Systems is set to close on May 31, 2019.
Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow
