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25 March 2003 - Lodestar Corporation, the global provider of software solutions for the energy industry, announced Monday that it has signed a definitive agreement to acquire Office Management Services (Qld) Pty Ltd t/a Advanced Utility Solutions of Australia, an energy software sales and support organization. Terms of the transaction were not disclosed.
Brisbane-based Advanced Utility Solutions was established in 2000 to serve the Australian energy market's information systems needs. Starting as a strategic partner in Australia for RER's load forecasting product MetrixND, over the past two years the company has grown steadily, and in November 2001, commenced a Preferred Partner relationship with Lodestar. Through this partnership, Lodestar's Customer Choice Suite has been introduced to the Australian and New Zealand energy markets.
"This acquisition is a result of the partnership that's evolved over the past year," said Chris Hamilos, CEO and Chairman of Lodestar. "Combining the technology and talent of Lodestar Corporation and Advanced Utility Solutions will bring energy companies a complete software solution built for the Australian and Asian markets. With this acquisition, Lodestar is strategically positioned to quickly expand into the Asia-Pacific markets."
"Lodestar Corporation and Advanced Utility Solutions share a common vision, business model, and corporate culture," said Mark Parker, Managing Director for Advanced Utility Solutions. "We're very excited to be a part of the ever-growing Lodestar family to be bringing the Customer Choice Suite to the marketplace. This acquisition, I believe, demonstrates the significant commitment of Lodestar to Australian energy companies."
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