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Remote Monitored Systems to focus on Gyrometric and Cloudveil arms

Snapshot

  • RMS implementing cost-saving measures
  • Broadened its sectors by acquiring surveillance and risk management startup Cloudveil
  • New customers include industry heavyweights Tarmac and Clarke Industry 
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Quick facts: Remote Monitored Systems

Price: 0.3 GBX

LSE:RMS
Market: LSE
Market Cap: £1.5 m
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What does RMS do?

Remote Monitored Systems PLC (LON:RMS), formerly known as Strat Aero, provides survey and inspection services and software to remotely monitor rotating shafts such as those used in wind turbines.

While the business originally focused on drone technology, RMS has now turned its gaze squarely on remote monitoring software after last September's purchase of a controlling stake in Gyrometric, a firm that develops technology to digitally assess rotating shafts.

Upping its stake to 57.8% from 36.9% for £273,600, this led the board to change the group's name from Strat Aero to reflect the new focus, though it still wholly owns Geocurve, a survey and inspection specialist though this is up for sale.

Gyrometric has recently won contracts with Tarmac to monitor the mill drive at a cement works and also with Clarke Energy for a pilot plant project to spot potential problems before they occur. 

More recently, the company has also launched itself into intelligence and security with the acquisition of high-flying startup Cloudveil which works in data analytics and surveillance.

Inflexion points

  • In September, the company acquired risk management business Cloudveil for £130,000 with the intention to develop a new intelligence and security division.
  • Cloudveil already has partnerships with steelmaker ArcelorMittal as well as government agencies and defence forces in Afghanistan, Iraq and other locations in the Middle East.
  • Sale of Geocurve surveying business

What the boss says

Chairman Nigel Burton said of the Cloudveil acquisition: “We’re very excited about the opportunity to turn a small acorn into an oak, just as we’re hoping we’ll do with Gyrometric.”

"Gyrometric continues to find new markets and applications for its unique technology, some of which have become apparent only recently. This process of exploring new applications continues apace and we expect to provide further updates to shareholders as matters progress."

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