By Phil Boeyen, ShareChat Business News Editor
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Thursday 11th October 2001 |
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Kinetiq, which developed the billing software PV2, says it has increased its shareholding in Utility Settlement Ontario from a minority holding to wholly-owned. USO will be renamed Kinetiq and launched in Canada at the start of next month.
Kinetiq boss, Gavin Mitchell, says the acquisition leaves Kinetiq well-placed to increase its profile and activity in a market that is gearing up to full deregulation next year.
"This acquisition demonstrates a strong commitment to our existing customers in Canada and also allows us to provide them with higher levels of support in the future," said Mitchell.
"In addition, Utility Settlement Ontario established a strong profile for our customer management product, Settlement One, in the Canadian market and this leaves us with a good foundation on which to build a broader awareness of Kinetiq."
Mr Mitchell says he is optimistic about the potential of the Canadian market for sales of the PV2 module, Settlement One, as well as for the complete PV2 suite.
"Interest in Settlement One and PV2 will continue to grow as the Canadian market moves towards full retail contestability."
He says Canada's proximity and similarity to the US will allow Kinetiq to use its successes to illustrate the company's credibility in the North American environment.
Kinetiq announced its first major sale in the Australian market this week, supplying PV2 to Victorian energy distributor TXU Networks.
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