AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- EP&T Global acquires UK-based Coda Cloud Ltd.
- Focus on expanding presence in UK railway and telecom markets.
- Deal expected to be cash flow positive in the first year.
EP&T Global, an energy optimization company, has completed the acquisition of UK-based Coda Cloud Ltd. This acquisition brings valuable data center assets into EP&T’s (ASX:EPX) portfolio, aligning with its strategy to optimize building energy usage.
Coda Cloud specializes in technology that remotely manages and maintains buildings and assets, focusing on reducing operational costs and extending the lifespan of equipment. This acquisition is a significant step for EP&T, an ASX technology stock, with the total cost reported to be A$233,000. The transaction, announced earlier this month, was formally completed on Tuesday.
A key aspect of the acquisition is Coda’s established presence in the UK railway market through its partnership with FirstGroup PLC. Coda’s technology is already in use at multiple railway stations and bus depots, where it monitors energy consumption. EP&T is now in discussions with FirstGroup to continue this commercial relationship, leveraging Coda’s technology in these locations.
Beyond the railway sector, EP&T is eyeing opportunities in the telecom and data center industries, particularly within the UK and Europe. The acquisition is expected to enhance EP&T’s ability to identify energy inefficiencies and expand its customer base across industrial properties.
Currently, Coda’s technology is applied across more than 200 sites, and EP&T anticipates that the acquisition will generate positive cash flow within the first year. Furthermore, EP&T sees potential in expanding its services to the UK’s broader railway network, which includes over 2,000 sites.
John Balassis, CEO of EP&T Global, expressed optimism about the acquisition, stating, "We are pleased to close the transaction and re-engage with a core development partner like FirstGroup PLC, who has invested significant efforts into Coda’s technology. We look forward to continuing these discussions and assisting FirstGroup in meeting its sustainability targets."
With this acquisition, EP&T Global is positioning itself for growth in the UK and European markets, while continuing to support energy-efficient operations for its clients across various sectors. EP&T Global shares last traded at 2.3 cents per share.
