BGH Capital, an Australian private equity company, offered to acquire Hansen Technologies, a global provider of software and services to the energy, water and communications industries, for $1bn. The offer represents a 25% premium to the previous day's closing price. Parties signed a non-binding agreement and agreed on six-week exclusivity and due diligence process. Andrew Hansen, Hansen CEO, said he will sell his 17.5% stake in favor of the bid. The board of directors is expected to recommend the offer as well.