A UK energy and water consultancy has bought an energy software firm for £10 million.
Utilitywise announced today it has bought t-mac Technologies Ltd in a bid to expand the services it offers to customer needs.
t-mac provides energy management systems to businesses, helping them monitor and reduce their energy usage.
It uses interactive, cloud-based software so users can analyse and manage their buildings from anywhere.
CEO of Utilitywise Geoff Thomson said: “We know [customers] are increasingly looking for rapid impact, cost-effective services that give them more control over electricity, gas and water usage and protect their businesses against future price volatility.”
Utilitywise is a utility cost management consultancy, it has trading relationships with a number of UK energy suppliers.
The deal has been made with a £6.25 million cash lump sum and 1,782,319 in shares.