Birmingham-based Vanti, specializing in integrating tech solutions for property owners and developers, has undergone acquisition by London’s Torpedo Factory shortly after entering liquidation.
Torpedo Factory has acquired select assets of Vanti, also known as RTS Technology Solutions, signaling its expansion into Birmingham with plans to hire staff and establish a new office.
Founded in 2006 and under the leadership of CEO Mike Brooman for 15 years, Vanti’s expertise lies in enhancing buildings with smart technology, offering tailored amenities like cinema rooms and meeting spaces to users and tenants.
The company’s notable projects in Birmingham include One Centenary Way, the Royal Conservatoire building, and the Library of Birmingham.
Vanti’s liquidation on Monday, attributed to funding shortages, was swiftly followed by Torpedo Factory’s acquisition for £37,000, with potential additional payments of up to £50,000 contingent on financial performance and client retention over the next 18 months.
This acquisition transpires less than a year after Vanti secured a £1.5 million loan from the Midlands Engine Investment Fund to expand its team and enhance its infrastructure.
Torpedo Factory, known for its technical support in projects like theatres and digital signage, sees the acquisition as an opportunity to access Vanti’s extensive experience in smart building systems.
CEO Nick Clark expressed enthusiasm for expanding Torpedo Factory’s presence into the West Midlands and welcoming former Vanti employees, citing the acquisition’s potential to bolster the group’s software assets.
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By Proptechbuzz
By Ravi Kumar
