Billing services provider Hansen Technologies Limited (ASX: HSN) shares have risen 2.2% today after the group announced it had executed a non-binding letter of intent to acquire PPL Solutions.

While the announcement was rather brief on the details, it does appear as though the acquisition is fitting. PPL Solutions, which is currently owned by PPL Energy Funding Corporation – a subsidiary of NYSE-listed PPL Corporation — also provides billing services to the utilities sector in the United States. It also provides business processing outsourcing and information technology services.

Hansen said: “The acquisition remains subject to the satisfactory completion of due diligence, Board approval, the execution of a mutually agreeable Purchase and Sale Agreement, and other closing conditions. Subject to meeting these requirements, the transaction is targeted to close within the next 60 days.”

Should the transaction proceed, the acquired business is expected to represent roughly 5% of Hansen’s worldwide earnings before interest, tax, depreciation and amortisation (EBITDA).

In a trading update provided in February, the company reported first-half EBITDA of $22.3 million and said that it expected second-half EBITDA to broadly replicate that figure “provided favourable trading terms are maintained”. That suggests full-year EBITDA would be around $44.6 million – up from $31.3 million in financial year 2015 – and that PPL Solutions would have EBITDA of roughly $2.2 million (note that these are only estimates).

Hansen also noted that the acquisition can be funded from Hansen’s internal cash resources.

While there are always risks involved when acquiring businesses, Hansen has a long history of successfully integrating new businesses into the company which have added plenty of value for investors. In fact, the company’s share price has risen 66.7% over the last 12 months and an astonishing 2,641% over the last 10 years, reflecting that value add.

Hansen’s shares are trading at around $3.70 today, and could still offer plenty of value to long-term investors.

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Motley Fool contributor Ryan Newman owns shares of Hansen Technologies. The Motley Fool Australia owns shares of Hansen Technologies. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.