Gentrack acquires Factor, embedding AI-powered pricing intelligence in the g2 platform

Gentrack Group Limited (NZX/ASX: GTK) has completed the acquisition of Factor, a New Zealand-founded business proven in developing software that enables energy retailers to price and manage commercial electricity contracts at scale. Factor was founded by Jessica Venning-Bryan and Simon Pohlen, both part of the founding team at Flick Electric Co.

The purchase price was at an enterprise value of NZ$24 million, with a potential earn-out of NZ$10 million linked to growing annual recurring revenue to circa NZ$17 million in the first three years of the transaction.The acquisition was funded entirely from Gentrack's existing cash reserves.

Decarbonisation, decentralisation, and digitisation have created a market of extraordinary complexity and opportunity. Large businesses consume around 70 per cent of global electricity, with close to US$1 trillion transacted every year across the commercial, industrial, and agricultural sectors. The retailers who serve these customers are managing degrees of complexity for which the industry was not built.

For more than 35 years, Gentrack has sat at the centre of how the world's leading utilities respond to that complexity. The g2 platform, built in partnership with Salesforce and AWS, supports 60 energy and water utilities across more than 40 regulated markets, with a global team of over 800 people. g2 spans customer engagement, billing, distributed energy resource management, business and data applications, debt management, and integration. With Factor inside the stack, it now adds pricing intelligence built natively for the energy transition.

Factor solves a problem that has cost the industry billions. Pricing a single business-to-business energy contract today can take more than 20 manual steps, dominated by spreadsheets, fragmented data, and manual toil. Factor replaces this time-consuming and high-risk process with a single logic engine and unified energy data model that can be accessed on-demand via APIs, delivering what the company calls 'trusted calculations at scale'.

The platform is already live with customers in Australia and the United Kingdom. Combined with Factor's existing partnerships with Salesforce and AWS, which align closely with Gentrack's platform architecture, this is expected to enable a seamless integration into the g2 platform from day one.

Gary Miles, CEO of Gentrack, says, "Pricing is one of the most critical capabilities for retailer success in today's volatile energy markets. It is a strategic pillar we wanted to add to our g2 stack. From the moment I saw Factor's technology and met Jessica, I knew this was the company that would bring great value to both Gentrack and our customers. We are delighted to welcome the entire Factor team and will be introducing them to our customers as early as next week."

Gentrack's g2 platform is already trusted by some of the world's largest and most advanced energy retailers specialising in the corporate and industrial segments. The addition of Factor's pricing intelligence to g2 enhances the energy retail stack with technology that has been purpose-built for the next era. This allows Gentrack to immediately bring this capability to both existing and future customers.

Mike Carruthers, Chief Strategy Officer at Gentrack, says, "The future of energy is evolving at pace, and utilities need to be able to price and respond to increasingly dynamic markets. When we looked at what Jessica and Simon had built, the strategic fit with Gentrack was clear. Together with the existing billing and customer experience capabilities of g2, this creates a compelling end-to-end retail operations platform designed to support retail excellence across the utilities sector well into the future".

Jessica Venning-Bryan, CEO of Factor, says, "Gentrack is well known for serving the world's largest and most complex industrial and commercial energy retailers. Our ambition has always been to transform how utilities price energy; creating real fiscal incentives for electrification and demand response. We've built the product to do that. Now, with Gentrack behind us, we can get it into the hands of the companies that need it most."

The Factor acquisition follows Gentrack's 30 April announcement that Veovo, its airports division, has agreed to acquire Dubai Technology Partners.

Fact Sheet

Strategic alignment: Gentrack and Factor are both partnered with Salesforce and AWS, providing a clean platform architecture for native integration into g2.
If you are exploring digital modernisation or how to respond to these challenges, talk to us.

Transaction: Gentrack Group Limited (NZX/ASX: GTK) has acquired Prospero Energy Limited, trading as Factor.

Market entry: Factor will continue to be sold standalone, in addition to being bundled within g2. A tight product scope and same-day deployment, with no upfront implementation project required, means sales cycles are significantly faster than billing and CRM transformations. With no hard-coded market localisation requirements, Factor's addressable market is already global.

Financial impact: The impact of the transaction is included in the updated guidance provided on 5 May 2026. With only a short period left in FY26, the transaction will have limited impact on revenues this year. Target growth, excluding any benefit to Gentrack's win rate for g2 sales, would see the transaction become EPS accretive in FY28.

Completion: Completion occurred simultaneously with signing of the Sale and Purchase Agreement on 15 May 2026.

For further information:

Emily Lilly [email protected] +64 (0)20 4015 4564

Nathalie Watson Company Secretary Gentrack Group Limited +64 (0)9 966 6090

About Gentrack

Gentrack is a New Zealand-founded, NZX/ASX-listed technology company serving the global utilities sector. With more than 35 years of experience, strategic platform partnerships with Salesforce and AWS, and a global team of more than 800 people, Gentrack provides billing, customer engagement and retail operations technology to more than 60 energy and water utilities across more than 40 regulated markets. Its flagship platform, g2, combines customer engagement, billing, distributed energy resource management, business and data applications, debt management and integration within a single, composable solution.

Gentrack also operates Veovo, its airports business, serving more than 150 airports across 25 countries.

https://www.gentrack.com

About Factor

Factor (Prospero Energy Limited) was founded in New Zealand by energy technology specialists Jessica Venning-Bryan and Simon Pohlen, both part of the founding team at Flick Electric Co. The company provides API-driven forecasting and pricing technology that enables modern energy products and commercial models, including Power Purchase Agreements (PPAs), Virtual Power Plants (VPPs), Time and Type of Use pricing, flex contracts, TPI commissions and settlements.

https://www.usefactor.com