Australia's Energy One climbs most in 7 months on $4.9 mln acquisition of Belgian peer

Energy One

01/10/2021 02:17

** Shares of Energy One Ltd  EOL.AX  climb as much as 8.1%
to A$5.74 after co announces buyout of Belgian energy markets
software provider EGSSIS NV 
    ** Stock records sharpest intraday percentage gain since Feb
18 
    ** Energy One, which also provides software for the energy
industry, said it would pay 4.25 mln euros ($4.92 mln) for
Egssis  urn:newsml:reuters.com:*:nASX9RWkkF 
    ** Acquisition allows EOL enhanced ability to win customers
in Europe 
    ** Expects A$5.9 mln ($4.26 mln) revenue contribution from
Eggsis over the two-year period as the businesses are merged
    ** Stock hits its highest since Sept 20 
    ** EOL down 15.04% so far this year, as of Thursday's close 
    
    ($1 = 0.8643 euros)
    ($1 = 1.3847 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))