A: Thanks for the question.

With a market cap of circa $200m, Hansen Technologies (ASX Code HSN) is very much in the ‘micro-cap’ category.

Unless I know something about the industry or the people involved with the company, I leave these sort of companies to the small cap fund managers.

Hansen is actually a bit of a rarity in this part of the market in that they actually have quite a decent track record.

Notwithstanding that, I don’t have any insights about the “billing market”, or the recent acquisition of Banner CIS.

History suggests that most Australian companies don’t make a good fist of offshore acquisitions – so this is also a ‘red flag’ for me.

If the question is “would I invest” – the answer is no.