Infotech’s acquisition deal with Urbanise, a provider of IoT (Internet of Things) and service delivery platform for buildings, is going ahead.
Urbanise is an ASX-listed global creator of a cloud-based platform for delivering building services, with offices in Australia, Dubai, Singapore, Bulgaria and South Africa.
The company has initiated a share placement to secure the necessary funds to acquire complementary technology platforms and drive business growth.
The deal involves multifaceted web-based mobile asset tracking and management platform Intelligen and established smart utilities cloud platform Wattkeeper, (Enermatics), and is effective from 4 January 2017.
In addition to providing the standard features of live vehicle tracking, Intelligen gathers critical data which will assist the user to make informed decisions, optimise performance and eliminate risks.
Through the acquisition the market can now benefit from a high-tech and feature rich resource that allows for proactive and reactive mobile resource and asset tracking management.
Through the innovative integration of Intelligen with a multitude of mobile devices, this powerful management tool allows for real-time monitoring, route optimisation, prioritisation and dispatching which offers substantial cost savings to customers through better management of resources and assets.
Wattkeeper is an established cloud platform providing innovative smart meter solutions to the energy market, focusing on technology to help users generate tenant bills and common area bills, compare tariffs and optimise usage, manage unique smart switching schedules, generate reports and business intelligence around utilities.
Through its acquisition of Wattkeeper, Urbanise will integrate a cloud-based micro-utility billing solution that enables rapid deployment, billing and reading of smart meters for electricity, water and gas.
It will also bring into its services portfolio a suite of smart meter devices that are designed to enable automated meter reading, pre-paid and post-paid business models and smart automation models that can limit utility consumption.
Although the finalisation of the deal is subject to South African regulatory approval, all parties have agreed to terms which will see Urbanise fully acquire both Intelligen and Wattkeeper as a going concern, from Infotech.
Heinrich Venter, CEO of Infotech, says the deal represents a value-add to the market. “This brings to the table a host of benefits that will transform the enterprise and help establish Infotech’s technology offering to a broader market.”