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Energy One to Acquire Gas Management Services in Nearly AU$100 Million All-Scrip Deal

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Energy One (ASX:EOL) struck a deal to acquire energy market software provider Gas Management Services from Fluxys UK in an all-scrip transaction with an enterprise value of AU$99.8 million, according to a Wednesday filing with the Australian bourse.

Energy One will issue about 7.1 million shares to Fluxys as consideration, with Fluxys expected to hold about 18.3% of Energy One following completion, per the filing.

The acquisition is the largest in Energy One's history and is expected to be materially value accretive to shareholders, the company said, adding that Gas Management Services strengthens its foundations across software, services, customers, market operations, and geographic reach.

The deal is expected to complete by November, subject to conditions including Energy One shareholder approval.

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