Thu, 31 Mar 2022 | BUSINESS SALE
Solihull-headquartered technology services firm Correla has completed the acquisition of cloud-based energy data management company CloudKB, its first acquisition since it received backing from private equity firm NorthEdge.
NorthEdge first invested in Correla in March 2021, with Correla’s takeover of CloudKB coinciding with the one year anniversary of their collaboration. Following the takeover, Correla is expected to target further strategic acquisitions, alongside organic growth, with the aim of diversifying its energy services offering.
Correla claims that it is the only technology services provider offering end-to-end visibility of the UK gas network, via its real-time analytics dashboard. Customers can use this visual, interactive dashboard to monitor carbon reduction efforts and improve their energy efficiency.
According to Correla, the acquisition of CloudKB and its uMesh platform - a cloud-based data management platform designed for the energy industry – will deliver improved software automation, speed and simplicity to its customers as they seek to decarbonise their heating and transport.
Describing the acquisition as the “first step in our long-term business strategy,” Corella CEO Sian Jones commented: “With the uMesh technology we’ll be able to add huge value to new and existing clients and ensure we continue to offer tools and solutions which are at the forefront of changing the energy industry for the better.”
NorthEdge Partner and Head of New Business Jon Pickering added: "This acquisition is an important milestone for the business as it begins to diversify into alternative energy markets. We look forward to seeing the business continue to grow over the coming years, both organically and through further strategic acquisitions, and are proud to be supporting the UK energy sector move towards a Net Zero future alongside Correla."
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