Construction technology provider Causeway Technologies has acquired asset management software firm Yotta, for a cash consideration of £52m.
Yotta, which was established in 1986 and has over 200 customers worldwide, provides software to assist in the management of more than 35 million physical assets and related services, including highways, street lighting and waste management.
Causeway said the acquisition marks another vital step on its journey to digitise the processes that underpin the construction and maintenance of infrastructure assets.
Joining the two firms ‘will create a single truly integrated end-to-end solution that manages the entire asset management lifecycle for local authorities and their contractors’, Causeway said in a statement.
Chief executive Phil Brown (pictured) 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.
Yotta chief executive Nick Smee 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.’
Causeway Technologies, which was established in 1999, is based in Buckinghamshire, serves over 2,800 customers and has over 400 employees. It provides enterprise and cloud software solutions to the construction and infrastructure maintenance industries.
It described the acquisition of Yotta from Oxford Metrics plc as its second strategic acquisition since Five Arrows Principal Investments made a significant investment in it.
