Chinese software giant swoops for Lancashire energy experts
Energy optimisation company Cotopaxi has been acquired by Chinese software group BONC (Business-intelligence of Oriental Nations Corporation Ltd) for £18.1 million.
Skelmersdale-based Cotopaxi Ltd says the move will put the company in a much stronger position in China to capitalise on the huge market demand for industrial energy efficiency and environmental improvement.
The deal is subject to approval by Chinese government officials and is based on agreed targets and an aggressive business plan that will be achieved over the next three years.
Directors Cliff Bradshaw, Kevin Kitching and Stuart Hartley will remain in control of the board of Cotopaxi and have a 5 year contract as the management team.
Cliff Bradshaw, the founder director of Cotopaxi, said: “This is great news for the company and is a real testament to the talents and expertise of the staff.
“During our early meetings BONC expressed significant interest in investing in Cotopaxi. They presented many growth opportunities primarily in China and complementary software development expertise for our enterprise web application, Strata.
“BONC are principally a big data BI software company with extensive connectivity into SAP, they are almost 3000 people and are focused on the telecom industry.
“We were able to put a strong proposition to Bonc based on our key capabilities”.
Established in 2009, Cotopaxi is a main provider of Internet-based climate change and sustainability solutions to a large number of industrial sites in blue chip sectors including chemical, FMCG, manufacturing and food and beverage.
Cotopaxi currently has UK offices in Skelmersdale and Northampton and worldwide in Beijing, Mumbai and Germany.
This was posted in Bdaily's Members' News section by Simon Malia .