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London – August 23rd, 2018 - WTA is pleased to announce the sale of Roadworks Information Limited (“Elgin”), a UK-based software business to Bridgepoint through their Bridgepoint Growth fund.
Elgin has developed a world leading traffic management technology platform and is the home of roadworks.org, the local and national planning, management and communications hub for roadworks, road closures and traffic disruptions.
Established in 2011, London based Elgin delivers its solutions as a pure Software-as-a-Service (SaaS) with a national customer base including local and strategic highways authorities, utility companies and their contractors and consumer mapping and sat-nav providers. It is now at the heart of the digital transport revolution.
CEO and co-founder James Harris said: “Our ambition is to build on our strengths in providing traffic management solutions in the UK and to play a major role in supporting the growth of autonomous vehicles and Smart Cities worldwide, leveraging our uniquely close relationships to the global satnav providers. Today’s investment by Bridgepoint Growth will allow us to accelerate our growth ambitions and extend and develop our range of services.”
Co-founder Shane O’Neill added: “We began several years ago with a vision to aggregate official traffic information across hundreds of different official sources. We have achieved a substantial market coverage within England, Scotland & Wales serving the traffic management community and developed a suite of software tools which syndicate official and real-time traffic data into the global satnav providers and other media outlets.”
WTA worked with the company as their M&A advisor, initially assisting with the company’s business development strategy and then seeking the best strategic partner for the future of the business.
James spoke of WTA’s role “Working with WTA as our advisors was a genuine pleasure. They demonstrated a deep understanding of our market and were able to guide us strategically as we developed our thinking towards an exit. I would have no hesitation in recommending them to any technology company going to market.”
Alan Butterworth said "This transaction further establishes WTA as the lead specialist in software and technology mid-market sector with an additional specialism within the traffic and transport market segments. We are delighted too that Bridgepoint recognised the strategic opportunity to take Elgin to the next level within the rapidly emerging global “smart cities” technology market.”