Hansen Technologies Buying Sigma Systems in $117 Million DealHansen Technologies Buying Sigma Systems in $117 Million Deal
Hansen Technologies is a publicly traded company listed on the Australian Stock Exchange.
May 2, 2019
Sigma Systems, a provider of catalog-driven software, is being acquired by Hansen Technologies, a provider of billing, data management and customer care solutions for the energy, water, pay-TV and telecommunications industries, in a deal totaling $117 million.
Upon closing on May 31, Hansen will acquire full ownership of Sigma Systems. Hansen is a publicly traded company listed on the Australian Stock Exchange.
Tim Spencer, Sigma’s CEO, tells Channel Partners that with this acquisition, it’s business as usual for his company and its partners.
Sigma Systems’ Tim Spencer
“We will continue to maintain the emphasis on momentum and business continuity on a day-to-day basis,” he said. “Where we see the opportunity is in taking the Sigma portfolio into the energy and utilities verticals and expanding within Hansen’s telecommunications and pay-TV base. Where partners are specifically concerned, we believe this is a great opportunity for them. With a larger organization comes increase in spend and reach that our partners can also be part of. As the business continues to grow, scaling of resources, extending our delivery and implementation capabilities and providing vertical expertise in potential new industry verticals are all areas where Sigma partners can have future collaborative role.”
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Sigma said the acquisition and the resulting combined product offerings of the two companies will further strengthen and expand the value proposition across the telecom, media, IoT, energy and utilities industries.
“This acquisition … is a positive development for both Sigma and our partners, providing greater scale and additional expertise,” Spencer said. “We will be able to leverage the capabilities of a much larger and global organization, with 30 offices worldwide and now over 600 customers in more than 80 countries. Sigma already has a strong competitive position in the communications space by focusing on enabling service providers to create and monetize a new wave of digital services, sell those services seamlessly across all channels and deliver them faster and more profitably than before.”
Combined with Hansen’s billing, data management and customer care expertise, Sigma can provide an even more valuable experience to its customers, “one that spans product and service innovation through to revenue realization and support,” he said.
“It will make us an even more formidable competitor within the telecom space as well as the energy and utilities verticals,” Spencer said.
Hansen Technologies’ Andrew Hansen
In the last year, Sigma has been pursuing an aggressive growth strategy through increased focus on product and cloud adoption, adjacent verticals and an enhanced go-to-market partner strategy, Spencer said.
“The acquisition represents a strategic move to enhance our value proposition to the telecom, pay-TV and energy verticals,” said Andrew Hansen, Hansen’s CEO. “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.”
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