Construction technology company Causeway Technologies has acquired Yotta, a global provider of connected asset management software and services, from AIM-listed Oxford Metrics plc.
Yotta serves over 200 customers worldwide, providing software to assist in the management of more than 35 million physical assets and related services, including highways, street lighting, and waste management.
The acquisition marks another vital step on Causeway’s journey to digitise the processes that underpin the construction and maintenance of infrastructure assets, it said in a press release today.
Phil Brown, chief executive of Causeway, said: “Process and data integration is essential for all local authority contracts executed by contractors.
“With our new combined offering, data will flow seamlessly between local authorities and their contractors in one single end-to-end solution, ensuring the needs of all stakeholders are met without compromise.
“The acquisition of Yotta brings us a team with fantastic knowledge of solutions for local authority asset management and services. This, combined with Causeway’s own expertise in contractor job and resource management, creates a team with an unparalleled depth of understanding.”
Nick Smee, chief executive of Yotta, said: “I am confident that this combining of two UK-based sector leading software businesses will be a positive and exciting one for our existing customers, the many new users we hope to add over the coming months and years, and for our continued innovation in asset management solutions.”
This transaction represents the second strategic acquisition since Five Arrows Principal Investments made a significant investment in Causeway.
Financial details were not disclosed.
Image credit: popTika/Shutterstock
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