“Fastest growing” business communications provider Olive Communications buys SafetyBank
Acquisition will add construction sector SaaS platform to Olive’s own offering
Business communications and IT provider Olive Communications today announced it has bought SafetyBank, a provider of software-as-a-service (SaaS) products to companies in the construction sector.
Founded in 2010, SafetyBank develops managed software platforms to help construction companies comply with administrative requirements including health and safety, risk management, compliance, training and governance.
Its acquisition by Olive, which has seen the larger firm acquire SafetyBank’s entire issued share capital and intellectual property rights, will add SafetyBank’s platform to Olive’s own range of business telecoms services, as part of a strategy designed to widen its offering more generally.
Founded in 2003, High Wycombe-based Olive Communications describes itself as the UK’s fastest-growing business communications and IT provider, having been listed on the Sunday Times Tech Track 100 in 2013.
Its clients include large construction firms such as Mace and Kelthbray, and the company posted sales of £11.9m in 2013.
Olive Communications described SafetyBank’s platform as “innovative, intelligent and intuitive”, and confirmed that all SafetyBank staff will be retained following the deal. SafetyBank founder and CEO Jody Kennedy will also join the Olive board as CTO.
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.”
“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, founder of SafetyBank and new Olive Communications CTO, added: “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.”