Infotech Limited is proud to announce that its acquisition deal with Urbanise, a globally renowned 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.
Intelligen™ is a standard live vehicle tracking system that also gathers critical data which will assist the user to make informed decisions, optimise performance and eliminate risks. In addition, Intelligen™ with it’s multitude of mobile devices, is a powerful management tool which 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 Limited
Heinrich Venter, CEO of Infotech Limited, 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.”