Eleco plc (AIM: ELCO), an international specialist provider of software and related services to the built environment, announces the acquisition of BestOutcome Limited, a leading UK provider of simple, scalable, project portfolio management (PPM) software.
The acquisition represents further progress in Eleco’s strategy to invest in synergistic software products and technologies to strengthen its Elecosoft Building Lifecycle portfolio. For BestOutcome, the transaction provides access to the Elecosoft US customer base, a valuable point of entry for the company’s expansion into the American market.
Ideal Complement to Powerproject
Both companies will be actively selling BestOutcome’s products – including PM3, BestOutcome’s flagship software package - in the U.S. market. PM3 is an outcome-driven, PPM tool that allows organizations to run everything from large-scale business change programs to simple, stand-alone projects. It is an ideal complement to Powerproject, which allows for total management of a company’s construction projects.
The PM3 tool can import all Powerproject data but can also include data from a company’s entire project portfolio - across all internal departments. As a result, all company projects or programs can be easily managed, with a powerful dashboard showing all relevant KPIs – ideal for C-suite executives who need a fast, scannable view of all in-house jobs.
Headquartered in Gerrards Cross, Buckinghamshire, BestOutcome services a UK-wide customer base, with a strong focus on the public sector. This will give Eleco a greater foothold in the wider built environment, while also complementing its private sector exposure. Its core products, PM3 and PM3time, are utilized by 60+ active customers engaged in a diverse range of industries.
BestOutcome’s sector-agnostic knowledge, together with Eleco’s BIM industry expertise and construction data storage capability, will generate great opportunities to enhance and further strengthen each other’s customer bases.
Jonathan Hunter, Chief Executive Officer of Eleco plc, said, “The acquisition of BestOutcome represents another milestone in the development of Eleco as a leading provider of world-class software solutions to the built environment. The addition of BestOutcome’s simple, well designed, scalable PM3 portfolio management SaaS software to Eleco’s existing software portfolio will enable Eleco to meet the needs of a diverse audience in the built environment.”
David Walton, Founder of BestOutcome, noted, “BestOutcome is well known in the UK, but for us to get to the next level, we need to be part of an organization with far more resources. The U.S. is obviously a great market, but we never really considered it without an actual U.S. presence.
“The association with Eleco plc – and Elecosoft US in particular – will help us introduce PM3 to a new market that can really take advantage of a powerful, all-purpose project management tool. That’s a situation that will ultimately benefit both our companies.”
Elecosoft LLC was established in 2021 as one of the operating brands of its parent company, Eleco (AIM: ELCO). Its mission is to focus on their growing U.S. presence by providing companies with market-leading, integrated software tools that support the building lifecycle across a range of industries to drive efficient operations.
Elecosoft’s software portfolio is used during early planning stages through to construction and facilities management. Its flagship product, Powerproject, empowers better outcomes on projects of all sizes through its intuitive scheduling, 4D BIM integration, a mobile app, and resource management features. The company’s software solutions are created by highly skilled and innovative in-house developers in close collaboration with customers. Elecosoft also supports its customers with flexible training, technical support, and consultancy services, to maximize value. For more information, visit www.elecosoft.com.