Causeway acquires leading provider of connected asset management software and services, Yotta.
In June 2021, Causeway, the Buckinghamshire, UK-based construction technology group, secured a £120 million (c US$166m or €139m) investment to fund strategic acquisitions and accelerate its organic growth strategy to digitally connect the construction supply chain through further development of its cloud platform (read: Causeway secures £120m to expand). Four months later, in October 2021, it announced its latest acquisition: the building products information platform, SpecifiedBy, founded by Darren Lester (read: Causeway acquires SpecifiedBy).
Causeway has now acquired Yotta, a global provider of connected asset management software and services, from AIM-listed Oxford Metrics plc. Yotta serves over 200 customers worldwide, providing software to assist in the management of more than 35 million physical assets and related services, including highways, street lighting and waste management.
The company says “The joining of Yotta and Causeway will create a single truly integrated end-to-end solution that manages the entire asset management lifecycle for local authorities and their contractors.”
Yotta was established in 1986 and grew steadily, enjoying significant momentum across several service areas, from highways management, environmental services to street lighting and works. The transaction represents the second strategic acquisition since Five Arrows Principal Investments made a significant investment in Causeway.
