Kraken, the energy platform that supports Octopus Energy, has acquired Energetiq, an Australian software company known for its billing reconciliation software.
This move will help Kraken expand its billing services and reduce costs for businesses and customers.
Energetiq, founded in 1998, is a key player in the Australian market for billing reconciliation, with its Network Billing Validation product widely used by retailers.
The acquisition will allow Kraken to use Energetiq’s expertise and expand its services to more global customers.
The Energetiq team will join Kraken and move to Kraken’s new Australian headquarters in Melbourne.
James Eddison, Chief Technology Officer of Octopus Energy Group, said: “Energetiq’s products, capability and experience will be invaluable as we continue to build the leading operating system for utilities.”
Adam Kierce, Managing Director and Founder of Energetiq, said: “Whilst Kraken’s size, capabilities and success was an important component, it was the strong cultural and technical match that made this an easy decision to make.”
