Join our daily newsletter At The Bell to receive exclusive market insights
- For $6.4 million Energy One (EOL) is set to buy French Software as a Service provider eZ-nergy
- The buy will be funded using bank debt and equity totalling just over $800,000
- It is expected the purchase will add $4 million in revenue and $1.3 million in EBITDA in its first year
- Energy One’s share price has shot up 19.13 per cent today, with shares trading for $2.74 each
Australian listed Energy One (EOL) is set to buy French company eZ-nergy, a specialist in selling Software as a Service (SaaS) to utility customers in Europe.
Energy One will take full ownership of eZ-nergy in a deal worth around $6.4 million (€4 million). A share purchase agreement has now been signed.
The purchase will be funded using bank debt and equity amounting to just over $800,000 (€500,000).
In its first year it is expected the new company will contribute an additional $4 million in revenue and $1.3 million in earnings before interest, tax, depreciation and amortisation to Energy One.
eZ-nergy has 44 customers in eight countries, brining Energy One’s total to 250 customer installations in 18 countries. The buy will assist the company with its expansion into Europe.
The company explained its purchase of energy trading company Contigo from November last year will compliment the eZ-nergy buy.
After announcing it will buy eZ-energy, Energy One’s share price has shot up 19.13 per cent at market close. Shares in the company are now trading for $2.74 each.
