Hansen Technologies extends major contract with European utility SSE in wake of operational shake-up

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By Colin Hay - 
Hansen Technologies ASX HSN UK utility agreement renewal

Just weeks after reinvigorating its leadership team, global software and services provider Hansen Technologies (ASX: HSN) has secured a major extension of its contract with a leading European utility.

The 7-year renewal contract with SSE will facilitate an upgrade to Hansen’s cloud-enabled Customer Information System (CIS) platform.

The CIS platform features an event-driven architecture, enabling greater customer engagement and access to features supporting smart meter data management and flexible pricing and quoting for electric vehicles, solar, battery and heat pumps.

Long-term customer

SSE, a leading supplier of electricity and gas to the United Kingdom and Republic of Ireland, has been a Hansen client since 2005.

Along with extending the relationship between the two companies, the contract upgrade is a significant enhancement to the existing agreement.

This includes implementation commencing in FY25 and an additional incremental recurring revenue uplift of approximately $2.8 million per annum post-implementation completion.

Enduring partnership

“We are extremely proud of our enduring partnership [with SSE],” global chief executive officer and managing director Andrew Hansen said.

“This renewal represents a significant milestone, highlighting the strategic investments we have made in our products and underscoring our commitment to supporting a valued customer through their digital transformation journey.”

“Our continued collaboration reflects our ability to deliver innovative solutions and reliable support in an evolving digital landscape.”

Operational shake-up

Hansen, which supports 600 customers in over 80 countries, announced a change to its operational makeup earlier this month.

In a major shake-up, the company revealed it would have two operational verticals from July 1.

An energy and utilities division will be led by David Castree, with a communications and media division set to be headed by Scott Weir.

The two divisional leaders are long-term Hansen executives and bring varied and significant knowledge gained over many years to the new roles, in which they will be looking to drive continued organic growth.

Further changes

Hansen also revealed that former senior executive Niv Fernando had rejoined the company as chief strategy officer.

He will be responsible for managing the development and execution of Hansen’s broader growth strategy, including potential mergers and acquisitions.

Under the new structural landscape, Hansen’s former chief executive officer Graeme Taylor is stepping down to allow Mr Hansen to resume the role.

“Hansen is fortunate to have such talented and experienced leaders as part of our ongoing growth strategy and succession planning who can seamlessly step into these elevated roles,” Mr Hansen said.

“This leadership transition is a natural evolution of our company’s growth, stability and success since we commenced operations in 1971.”

“Today’s announcement positions Hansen well for further growth and expansion.”