Olive Communications has acquired SafetyBank Solutions Ltd, a developer of Software as a Service (SaaS) based products to the construction sector.
SafetyBank was formed in 2010 to create and develop software to help the construction industry manage and administrate all aspects of health and safety, risk management, compliance, training and governance throughout the entire supply chain.
In acquiring SafetyBank, Olive will now be able to provide business-critical applications to companies employing field-based workers, in addition to its current portfolio of connectivity, equipment and converged communication solutions. Olive is one of Vodafone’s largest Platinum Partners in the UK, managing in excess of 120,000 mobile subscribers and supporting in excess of 2,500 business customers.
As part of the acquisition, Olive has acquired the entire issued share capital, along with the Intellectual Property Rights. It will retain all SafetyBank staff, including its 15-strong application development team. SafetyBank Chief Executive and inventor of the platform, Jody Kennedy, will join the Olive Board as its Chief Technology Officer.
Martin Flick, Chief Executive of Olive said: “This is our tenth acquisition in two years and is the most significant in terms of our broader managed services strategy. We have already been investing in and developing the SafetyBank platform jointly with Jody and his team, and following a soft launch earlier this year, we are now ready to incorporate the range of services into our core portfolio, hence the timing of the acquisition.”
Flick continues: “This acquisition is a game changer for Olive. It demonstrates our commitment to continually add value to our customers by delivering cost-effective managed communications and connectivity, alongside device and user management, rich content and services.”
Jody Kennedy, previously Chief Executive of SafetyBank and now Olive’s new CTO, said: “Olive has already played an integral part in making SafetyBank available for those working on sites and remotely. The success demonstrated by Olive as the market leader in workforce mobilisation is a great enabler for all of our customers and partners in creating a limitless, streamlined and empowered approach to risk management and beyond. The once only dreamed of combination of SaaS, mobilised workforce and construction risk management is now not only a reality for enterprise businesses, but is affordable to all.”
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