Coms Plc Shareholders approve renaming of Group to SmartSpace Plc

Coms Plc Shareholders approve renaming of Group to SmartSpace Plc

Coms Plc Shareholders yesterday approved the renaming of the Group to RedstoneConnect plc (“RedstoneConnect”) (AIM: REDS), reflecting the Group’s focused strategy of providing technology and services for smart buildings and commercial spaces through its core businesses, Redstone and Connect IB.

We have successfully repositioned the business to focus on a defined strategy to use technology and innovation to make buildings and commercial spaces smarter.

Our new name and identity reflects this strategic direction.

At the core of our offering is the Redstone operation, a leading IT network and smart building systems integrator, with a blue chip customer base and a thirty year heritage.

This has been enhanced through the acquisition in March 2016 of Connect IB, a smart buildings software and solutions business.

The opportunities for deploying smart technology into buildings and commercial spaces continues to grow at pace and we are delighted to have already secured a number new contracts which utilise services from across the Group.

I look forward to continuing to update you on our progress. 

RedstoneConnect’s key strategic priorities include:

Building on the Group’s established presence in the high growth smart buildings and smart technologies arena

Leveraging cross-selling opportunities throughout the Group’s substantial customer base, including many blue chip organisations

Developing and expanding the Group’s annuity revenue streams in software, managed services and support and maintenance

Rolling out the new occupancy management software solution, OneSpace

Broadening the Group’s intellectual property applications to a wider spectrum of smart environments

Investing in research and development that underpins the next generation of product development

Evaluating selective acquisition opportunities that support the Group’s strategy of enhancing the portfolio of products and services for smart buildings and commercial spaces.

The change of name took effect on 28 June 2016. 

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