The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

BidEnergy Acquires Optima Energy Management for £5.4m 

BidEnergy Acquires Optima Energy Management for £5.4m 
16 February 2021
 

Bid has acquired Optima Energy Management Holdings Ltd in a £5.4 million deal.

The acquisition is intended to accelerate Bid’s market penetration in the UK and “create a compelling customer proposition” in the UK and European markets.

Optima is a UK-based energy management software business with 51 customers and 196,400+ meters under management. BidEnergy is an Australian-based technology company, whose cloud-based platform helps to simplify the utility bill management process for organisations.

 

Utility Bill Management Solutions 

 

Bid believes that the acquisition creates the opportunity for Bid to leverage Optima’s international client base to drive growth globally, and provides further opportunities for Bid to scale its platform with customers within its four key revenue pillars.

Bid will integrate key elements of Optima’s platform into Bid’s Robotic Processing Automation (RPA) platform to build a "best of breed" utility bill management solution for the UK and European markets.

Optima is one of the UK’s leading energy management software providers and has established a strong reputation and brand recognition within the UK public and private sectors. Optima’s software platform provides bill validation, budgets and accruals, and tenant and self-billing, via a predominantly self-service model. Bid already has a long term relationship with Optima, having provided data collection services to support a limited part of their core business.

Optima’s management will work with Bid to transition all key customers as soon as possible. Optima’s Managing Director will be retained for at least 12 months to assist with the transition of Optima clients to the Bid platform.

Bid’s Managing Director, Guy Maine, commented: “Bid is very excited to take the next step on its journey to becoming a major global player in the utility bill management sector. The acquisition of Optima will accelerate our growth and penetration in the UK market, and offers the potential for expansion in both the UK and European markets.

“We welcome the Optima team and customer base and look forward to bringing value through what will be a best of breed RPA platform.”

Optima Managing Director, Steven Wright, added: "I am really excited that Optima has joined the Bid family, which is a natural home for the Optima business. Bid and Optima both have a customer-focused approach to delivering innovative software solutions.

"Bid’s global client base gives the combined companies the opportunity to deliver a market-leading platform for Utility Bill Management, Procurement, Carbon & Sustainability, and Tenant On- Charging. I look forward to working with the Bid team as we move into 2021 and beyond." 

Picture: a photograph of a handshake

Article written by Ella Tansley | Published 16 February 2021

Share



Related Articles

Energise – EMEX 2021 | Focus Interview

In another of our EMEX Focus Interview series, we welcome Simon Alsbury from Energise, the net-zero consultancy. Specialising in...

 Read Full Article
SUNAMP – EMEX 2021 | Focus Interview

SUNAMP thermal energy storage technology uses patented Phase Change Materials to make buildings more energy-efficient and sustainable while reducing carbon emissions. CEO...

 Read Full Article
Aceleron Launches Residential Battery Energy Storage System to Support a Circular Economy

Award-winning clean technology company, Aceleron, has launched the world’s first serviceable, upgradable and scalable residential battery energy storage...

 Read Full Article
The Future of Energy Management – Q&A With Lord Redesdale

ThisWeekinFM interviews Chair of EMEX, Lord Redesdale, on the future of energy management in the UK. Lord Redesdale co-founded EMEX to promote carbon and energy...

 Read Full Article
5 Business Energy Questions Answered

You cannot manage what you cannot measure, and ClearVUE. PRO provides deep levels of energy consumption analysis to help you transform your business energy profile and...

 Read Full Article
ZTP to Attend EMEX at Excel, London

ZTP uses artificial intelligence-led risk modelling software to help predict UK electricity and gas market price movements.  As an energy consultancy and...

 Read Full Article
Landsec Purchases 75% Stake in MediaCity

Landsec has acquired a majority stake in MediaCity, the 37-acre media, digital and tech hub in Salford, Greater Manchester, for £425.6 million. Indicating...

 Read Full Article
Bouygues Submits Offer for Engie’s Equans

Bouygues has submitted a binding offer to acquire Engie's facilities management and technical services arm, Equans. Reuters estimates the deal is worth 5-6 billion...

 Read Full Article
Bellrock Joins Forces With Sun European Partners

Bellrock Property & Facilities Management is to partner with Sun European Partners, LLP to accelerate future growth. Bellrock Property & Facilities Management...

 Read Full Article
CBRE Completes Majority Ownership of Turner & Townsend

CBRE has acquired a 60 per cent ownership interest in Turner & Townsend. The companies have also entered into a strategic partnership, whereby CBRE and Turner...

 Read Full Article