Belgian vendor EGSSIS is set to be acquired by Energy One according to papers filed with the ASX last Friday. Energy One is an Australia-based vendor that has in recent years developed a presence in European energy markets via acquisitions of Contigo and eZ-nergy in the UK and France respectively. To date, its acquisitions have looked like smart transactions and have helped Energy One to grow its revenues and profitability considerably while entering a geographic market with significant potential for further growth. Both Contigo and eZ-nergy have thrived under the Energy One umbrella as was seen in its latest annual report filed recently. EGSSIS is a company that has emerged in recent years supplying gas and power scheduling and short-term balancing solutions for European markets. It provides the software on a SaaS basis and provides services ‘on behalf of’ nomination and scheduling services in European markets. To that end, it would be considered a competitor to eZ-nergy. Energy One says that that EGSSIS is profitable with around 30 staff and 58 customers and set to pay 4.25m EUR over 18-months in cash and equity – an EBITDA multiple of 7x based on FY23 expectations, it says. It expects EGSSIS to… continue reading
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