Local telecommunications company GO has successfully concluded a transaction in which it acquired 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 Internet of Things (IOT) based technology to reduce energy consumption and associated costs for commercial buildings.

Nikhil Patil

“We are very excited about this new acquisition because it bridges two areas that GO is very passionate about – IOT technology and environmental sustainability,” GO CEO Nikhil Patil said.

“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,” he added.

The brainchild of Ing Michael Bonello, SENS 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.

“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,” Mr Patil said.

“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,” he concluded.

Related

Malta investment insights: MCConsult Founder Miriam Camilleri

3 March 2024
by Robert Fenech

She sheds light on the nuances surrounding the maritime industry in Malta as part of the latest edition of Malta ...

The Convenience Shop planning to make international expansion by 2025, says CEO Martin Agius

1 March 2024
by Fabrizio Tabone

He was speaking as the retail chain marks 15 years since it opened its first outlet in Żebbug, back in ...

New AQA SURE FUND seeks to focus on how ‘fish behave in your pond’ for high returns

1 March 2024
by MaltaCEOs

An actively managed strategy will focus attention on market behavior for a high yielding investment product.

How many airports is Malta connected to in 2024?

1 March 2024
by Fabrizio Tabone

MaltaCEOs.mt takes a look at the options available to travellers, as well as key business destinations, in the wake of ...

Close Bitnami banner
Bitnami