Utilitywise Share News (UTW)

(ShareCast News) - Utilitywise has been signed up as a partner by US technology giant Dell as part of a joint strategy to sell internet of things (IoT) solutions to business customers.Using Utilitywise's infrastructure and specialist industry knowledge as a corporate utility switching consultant, and Dell's computer hardware and well-known brand, the partnership will focus on selling 'building automation solutions' to companies to help cut lighting, heating, ventilation and air conditioning (HVAC), security, refrigeration and other utility costs.IoT is a concept where electric and electronic devices can communicate with each other, such as connecting lighting and heating to movement sensors so they will cut off when staff members leave the room, for example.Dell will provide Utilitywise a system-agnostic solution for all building automation needs, enabling Utilitywise to provide traditional building energy management systems users with enhanced solutions and, using IoT technologies, offering a range of solutions to large and the SMEs who are usually priced out of this market. The Dell software and hardware will allow all of those systems to be run through one central hub, giving companies greater analysis and control of energy-consuming assets.This partnership follows Utilitywise's acquisition around a year ago of Chesterfield-based T-mac Technologies, which via its own technology and software, provides energy management systems to enable businesses to monitor utility consumption, make savings and adjust to Government legislation.Utilitywise will either pay Dell up front or more likely on a subscription model over 12 months, according to broker Liberum.Trials with a major UK retailer in four stores saved 30% on energy costs and only took half a day to install, with Utilitywise expecting to trial with 1,000 customers, of which 100 by the end of June, which will also provide an opportunity to explore the different sale and subscription models.Dell's director for commercial IoT solutions, Andy Rhodes, said: "IoT technology is changing the way we live, work and do business. We know the IoT can provide a number of advantages to the energy management industry such as reducing waste, identifying efficiencies and cost savings."Dell is excited to be working with Utilitywise, and we believe they have the infrastructure, industry knowledge and market reach to introduce innovative IoT solutions."Liberum, which for the year to July is forecasting revenue and EBITDA growth of 29% and 18% respectively, said the Dell partnership "highlights that management has built a leading market position with a business model positioned for further significant growth and improving quality of earnings"."The challenge alongside the top line execution and cash conversion is to transition the model from largely out-bound led to a multi-channel value-added SME service and the partnership with Dell adds to that strategy."Shares in UTW were up 6% to 170.62p by late morning on Monday.