A Tyneside utilities tech provider has been acquired by a major UK infrastructure group in an undisclosed deal.
M Group Services has acquired the trade and assets of Salient Systems Limited, based at Cobalt Business Exchange in North Tyneside, in a deal which includes its proprietary software, 10 staff and client contracts, to add further capabilities to its data management offering. Hertfordshire-based M Group Services is a £1.7bn turnover essential infrastructure services provider operating within water, energy, transport and telecommunication sectors across the UK and Ireland, employing over 10,000 people.
Salient Systems, founded in 2001, is a specialist provider of technology solutions to the UK utilities metering market which has been working with an M Group Services company – Callisto, provides data management to energy suppliers – for a number of years. The relationship between the two companies has been key in recent innovations at Callisto, which has ultimately led to the takeover deal. The deal value has not been revealed.
