Hansen Technologies Limited (Hansen) is pleased to announce that it has reached an agreement to purchase the Peace utility customer information system business from First Data Corporation, effective 21 October 2008. This purchase is being funded entirely from Hansen’s existing internal cash resources.

The addition of Peace is extremely complementary to Hansen’s existing utility billing business. The combination will:

·    Increase Hansen’s revenues by approximately 50%;
·    Increase Hansen’s installed utilities billing customer base in Australia;
·    Represent a strong foundation market presence in the USA;
·    Add an additional utility billing customer in the United Kingdom;
·    Offer an extended product development capability in New Zealand;
·    Expand Hansen’s proprietary utility billing solution suite of products for the benefit of our broad customer base; and
·    Represent a combined 350 staff specifically committed to providing solutions to the utility industry.

Commenting on the contract agreement, Mr. Andrew Hansen, Managing Director of Hansen said, “Although we have historically competed in the same utilities billing space, Peace and Hansen have only rarely been in direct competition. For Hansen, this purchase will represent not only a growth in our utility billing business revenues but it will also represent a positive expansion in our product range and areas of geographic influence.

“The purchase of the Peace business, when combined with the initiatives we have announced to bench mark Hansen’s existing proprietary HUB billing solution to 1 million interval meters, will position Hansen as a key supplier of billing solutions to the utility industry on the world stage.

“We have been communicating with our shareholders since we sold off our NSW outsourcing business that we are committed to achieving both organic and strategic growth in our core billing business. Our existing core billing business is performing extremely well. The purchase of Peace is a major strategic move forward for Hansen.

“The integration of the Peace business into Hansen will not be without its challenges but I am convinced it will position Hansen for strong growth in the medium term. I am excited by the opportunity which the purchase of Peace represents and I am looking forward to working with the Peace management and staff to merge our two organisations into a strong internationally focused business for the benefit of our combined customer base, staff and shareholders.”