Billing software maker Hansen Technologies has announced that it will buy catalog-driver software vendor Sigma Systems for $166.2m.

Headquartered in Canada, Sigma was founded in 1996 and has more than 70 customers and 480 staff members in its head office located in Toronto.

Hansen’s catalog-drive software product applies real-time, enterprise-wide pricing structures to quote and capture orders, and can be used to for standardized consumer offerings to complex tailored enterprise services.

Hansen said the deal is expected to close on the 31st of May.

Hansen Technologies

Hansen believes that the acquisition will expand its scale and scope in the telecommunications sector.

“The acquisition represents a strategic move to enhance our value proposition to the telecom, pay-tv and energy verticals,” Hansen CEO Andrew Hansen said in a statement.

“Over the course of the last ten years, we have driven an exceptional growth strategy through acquisitions, achieving a compound annual growth rate of 28% over the last four years.”

“Bringing Sigma Systems onboard further strengthens our ability to provide valuable solutions to our customer base and creates new expansion opportunities to cross-sell Sigma’s software solutions into our broad base of energy customers.”

Sigma Systems

Sigma also offers end-to-end management of an order, with its product portfolio providing a single source of “knowledge” on all products consumers have ordered and services activated.

Its software is also able to manage, track, and activate a complete range of network application services and devices from a set of preconfigured activation solutions.

“Sigma’s products are well-designed to capture growth opportunities from the roll-out of new telecommunications services such as 5G,” Hansen said.

“With over a 23-year history serving the needs of the telecom industry, it is with great pride that we move to the next chapter in Sigma’s history,” said Tim Spencer, the CEO of Sigma.

“In the last year, Sigma has been pursuing an aggressive growth strategy through increased focus on product and cloud adoption, growth through adjacent verticals and an enhanced go-to-market partner strategy.

“The acquisition of Sigma by Hansen Technologies represents two strong companies coming together, a strong combined value proposition, and the acceleration of the Sigma strategy.”