Announcing Elecosoft’s acquisition of Shire Systems Ltd.

The Board of Elecosoft announces the acquisition of Shire Systems Limited (“Shire Systems”) a leading UK provider of computerised maintenance management software (CMMS) for an enterprise value of £5.1 m in cash.

The acquisition is a significant advancement in our successful strategy of investing in synergistic software products and technologies to strengthen our construction software portfolio. The acquisition of Shire Systems extends Elecosoft’s product usage beyond early planning, design and construction by providing a system for managing and maintaining equipment and property.

Shire Systems is a well-established and profitable software business with a diverse and high profile customer base in the manufacturing, healthcare, hospitality, construction, transport, education and utilities industries, to name a few.

The Board of Elecosoft is confident that Shire Systems’ asset maintenance and management expertise together with Elecosoft’s BIM industry expertise and construction data storage capability will provide significant opportunities for the development of new software applications in the post construction phase of the life of a building.