Acquires majority shareholding in SENS through an initial €1 million investment
GO announced its acquisition of a majority shareholding in Sens Innovation Group Limited (SENS) for an initial €1 million investment, with the potential to increase to approximately €3 million.
SENS is an energy management company that leverages proprietary IOT based technology to reduce energy consumption and associated costs for commercial buildings. It designs and builds customised solutions for clients that improve their business operations and efficiencies, whilst also contributing to the environmental responsibilities that modern business governance and legislation demands.
SENS serves large hotels and commercial clients in Malta, UK, mainland Europe and Dubai, and has worked with several establishments such as the Westin Dragonara Resort, InterContinental Hotel in Malta, Kempinski Hotel in Seychelles, Beachcomber Group in Mauritius, Mariott London, Movenpick Hotel Apartment in Dubai and the Royal Palm in Grande Baie Mauritius.
Commenting on this latest acquisition, GO CEO Nikhil Patil said “We are very excited about this new acquisition because it bridges two areas that GO is very passionate about – IOT technology and environmental sustainability. We have long established ourselves as innovators on the technology front, so combining this with a company like SENS, which has experience in IOT and green tech is a natural step forward in not only us realising our sustainability ambitions, but also serves to help our own customers reduce their carbon emissions.”
“Our purpose is to drive a digital Malta where no one is left behind. Such an investment is another great example of how we are driving environmental sustainability through IOT technology. It is a home-grown company that has created great value through its positive contribution to climate change, has created local job opportunities and has huge potential to continue expanding in foreign markets. I am confident that by leveraging on each company’s strengths and networks, we can continue to generate added value to our shareholders and customers,” added Mr Patil.
The company is the brainchild of Ing Michael Bonello, who has expanded the company’s offering over the past 15 years to become a leading provider of energy management systems.
“We view this strategic partnership with GO as the key to continue to grow SENS locally and tap into new international markets. As people and businesses are becoming more environmentally conscious, it makes perfect sense to combine our leading technology with that of a company like GO, which not only has experience in technology, but has an extensive customer base not to mention a successful track record of growing local businesses. Merging our extensive experience in energy management and IoT solutions, with the market presence and capabilities of GO, will create new opportunities and synergies that will drive our solutions to new heights,” explained Michael Bonello.
SENS already has a solid operation in the UK, which is currently managed by Scott Carter. “We are excited by these latest developments as such a partnership shows great confidence in our product and service offering. We look forward to accelerating our reach in the UK and mainland Europe, where we are witnessing a growing demand for energy management solutions, particularly in light of increasing energy costs worldwide and a greater consciousness for greener operations,” stated Scott Carter