The deal facilitates the development of Kraken’s network billing capabilities
Russell Kennedy has guided the founders of Australian tech company Energetiq on its divestment to Kraken Technologies.
The acquisition will incorporate Energetiq's reconciliations and revenue assurance capabilities into Kraken’s operations, improving efficiency and reducing costs. Energetiq’s expertise will facilitate the development of Kraken’s own network billing capabilities.
“The global expansion of the business’s products and capabilities as part of the Kraken group will be an exciting development in the industry”, Russell Kennedy principal and transaction lead Rory Maguire said.
Maguire and his team, comprising senior associate Amity Jarvis (corporate advisory/M&A), lawyer Jack Short (corporate advisory/M&A), principal Gina Tresidder (IP/IT) and senior associate Kelly Ralph (employment), advised on all aspects of the transaction. Eversheds Sutherland was Kraken’s UK legal counsel, while Thomson Geer was the company’s Australian legal counsel.
Energetiq’s flagship product is Network Billing Validation (NBV). Kraken is the provider behind major UK electricity supplier Octopus Energy.
