Gentrack acquires Junifer Systems

28 March 2017 Gentrack accelerates growth in the UK with acquisition of Junifer. Gentrack Group Limited (NZX/ASX: GTK) is pleased to announce that it has entered into an unconditional agreement to acquire the UK based utility customer information and billing system provider Junifer Systems Limited ("Junifer") for an enterprise value of NZ$74.6m (?42.0m)(1). Junifer is a market leading utility customer information and billing system provider for energy retailers in the UK with 25 existing customers out of approximately 50 energy retailers in that market. Junifer's technology is provided on a SaaS basis and offers new entrant utilities a cost effective and preconfigured solution. The combined Gentrack and Junifer business will be the market leader by number of utilities in the UK with 32 customers, supported by 130 local staff and a full product range for energy and water utilities. John Clifford, Gentrack Chairman said, "We are delighted to bring Junifer and Gentrack together in the UK. The combined UK business, under the leadership of Junifer CEO Saul Nurtman, will be well positioned to continue to provide highly innovative and low risk solutions to UK energy and water utilities, and from that strong base to expand into new markets." Ian Black, Gentrack CEO said, "The acquisition of Junifer delivers us the full range of product functionality from SaaS billing for new entrant energy and water retailers, to cloud hosted and on premise solutions for the largest utility players. The combined product offering of Gentrack Velocity and Junifer CIS is well positioned for growth, capitalising on the growing market share of Independent energy retailers, the UK smart metering roll-out, and retail competition in water for commercial and industrial consumers. Gentrack will also take Junifer CIS into other geographic markets as a solution for new entrant and SME retailers." Further information, including investor call details, is provided in the attached announcement and investor presentation. (1) based on the NZD/GBP foreign exchange rate of 0.5632. Contact Ian Black, CEO David Ingram, CFO +64 9 966 6090 About Gentrack Gentrack is a developer of specialist software for energy utilities, water companies and airports around the world. It employs over 280 people in offices in New Zealand, Australia and the UK and services utility and airport sites across four continents. Gentrack is comprised of two leading software products - Gentrack Velocity and Airport 20/20. Gentrack Velocity is a specialist billing and CRM product designed for energy utilities and water companies in competitive and regulated utility markets. Airport 20/20 is a comprehensive Airport Operational System engineered to optimise an airport's operations through intelligent collaboration, streamlining airport information flows and transforming the passenger experience. About Junifer Junifer Systems is a leading UK provider of Customer Information and Billing systems to the utilities industries. Junifer's first systems went live within an energy supplier in 2012, and to date, Junifer has over 25 utility customers around the globe, all using the Junifer CIS to service and manage their diverse and growing customer bases. Junifer is designed with the smart multi utility in mind - where utilities converge to provide a seamless 'one bill' solution. Completely flexible and scalable, Junifer can manage all meter and fuel types, from domestic and small business through to large industrial and commercial in one system, including district heating and water. End CA:00298969 For:GTK Type:ASSET Time:2017-03-29 08:30:29