Australia's Hansen Technologies rises on acquisition of German software co

Hansen Technologies

13/02/2024 24:48

** Shares of Hansen Technologies  HSN.AX  rise as much as
6.7% to A$5.440, set for best day since Aug. 23, if gains hold  
  
    ** Software services provider says it has completed an
acquisition of 100% of German software co, powercloud GmbH, for
an equity value of A$49 million ($31.97 million)
    ** Powercloud is expected to add FY25 revenues of A$40-46
mln and is anticipated to become EBITDA accretive within the FY
ending June 2025 - co
    ** Stock hit highest level since Feb. 5
    ** HSN up 0.2% YTD as of last close

($1 = 1.5328 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))