THE Vysus Group, the global engineering and technology consultancy, has completed its first acquisition following a strategic carve out from Lloyd’s Register at the end of last year.
Vysus, which was previously Lloyd’s Register’s energy business, has acquired Norwegian based software firm Promaps Technology, the creator of pioneering technology which ensures the security of energy supply and mitigates risk in power systems.
The deal, which will see Vysus Group take 100 per cent ownership of the firm, will allow Promaps Technology to continue developing its suite of innovative tools from its headquarters in Bergen where it was set up in 2017.
READ MORE: Standard Life brand sold
Vysus, which employs around 80 in its Aberdeen base, said the move bolsters its already strong grid connection and power services.
David Clark, chief executive of Vysus Group, said Promaps Technology “has been ahead of the curve for some time”.
Vysus Group was acquired by London-based private equity firm Inspirit Capital in October 2020.
Albert Farrant, founding partner at Inspirit, said: “We see huge potential for growth in Vysus Group and are pleased to see its first acquisition take place so quickly, which will build on its international credentials in grid and power services."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here