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Stockholm 8 October, 2021 - Zutec Holding AB (publ) ("Zutec")) today announced it has changed its name to BuildData Group AB ("BuildData"). From October 8, 2021 the ticker will change from ZUTEC.ST to BUILD.ST. An extraordinary general meeting on September 7, 2021 approved the name change and Bolagsverket recently registered the new name. All investor information will from October 8, 2021 be found on the new BuildData website www.builddata.se.
"The name change represents the already commenced change in our strategy and in alignment of our vision of partnering with customers throughout the entire building lifecycle from the development stage into construction and ultimately into the operational facility management phase. Our strategy will now be focused on M&A activity and using the BuildData umbrella for such activity" says Gustave Geisendorf, CEO of BuildData.
BuildData's strategy is to grow revenue by enabling in excess of 20% organic growth in group companies supported by a targeted M&A strategy to acquire companies with complementary offerings in the building lifecycle. BuildData consists of the following companies and solutions:- Quality Management: A leading web-based and mobile app solution for contractors and housebuilders to manage their quality processes to reduce delays and increase quality. Quality management is offered through the Zutec brand.
- Handover Management: When the main contractor hands back the building to the property owner, our handover management solution offers a complete package of information about the building's assets including all manuals. Handover management is sold through the Createmaster and Zutec brands.
- Asset Information Management: Our Asset Information Management ("AIM") solution offers property developers, housebuilders and housing associations a solution to manage all the data through the whole lifecycle of a building from Design to Operations. AIM is sold through the Zutec and Resi-sense brands.
"We are seeing a strong momentum in our business which is why we are confident to accelerate our growth trajectory. We have multiple avenues for both organic and acquired growth, our M&A pipeline is building and we expect to have further M&A announcements in the near future. Our business now consists of both ConTech (Zutec and CreateMaster) and PropTech (Resi-sense) and we are exploring M&A targets within both areas. Our geographic M&A focus will primarily remain in our home markets in the U.K., Ireland and Australia. Our target remains of reaching SEK 200 million in sales within three years. Shareholder value creation will remain a top priority for us as we are embarking on this next stage in our growth journey." says Gustave Geisendorf, CEO of BuildData.
For more information, please contact:
Gustave Geisendorf, CEO, gustave.geisendorf@builddata.se,+44 7760760777.
About BuildData
BuildData Group AB is a SaaS provider within construction and property technology and is listed on Nasdaq First North Growth Market. Redeye AB is the Company's acting Certified Adviser (Tel. +46 8 121 576 90, certifiedadviser@redeye.se www.redeye.se).