Gentrack Group Limited (NZX/ASX: GTK) is pleased to announce that it has entered into an unconditional agreement to acquire the UK based utility customer information and billing system provider Junifer Systems Limited (“Junifer”) for an enterprise value of NZ$74.6m (£42.0m)1. Junifer is a market leading utility customer information and billing system provider for energy retailers in the UK with 25 existing customers out of approximately 50 energy retailers in that market. Junifer’s technology is provided on a SaaS basis and offers new entrant utilities a cost effective and pre-configured solution. The combined Gentrack and Junifer business will be a market leader by number of utilities in the UK with 32 customers, supported by 130 local staff and a full product range for energy and water utilities. John Clifford, Gentrack Chairman said, “We are delighted to bring Junifer and Gentrack together in the UK. The combined UK business, under the leadership of Junifer CEO Saul Nurtman, will be well positioned to continue to provide highly innovative and low risk solutions to UK energy and water utilities, and from that strong base to expand into new markets.” Ian Black, Gentrack CEO said, “The acquisition of Junifer delivers us the full range of
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Source: CTRM Center