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Remote Monitored Systems to focus on Gyrometric and Cloudveil arms

Snapshot

  • RMS core business is GyroMetric, which remotely monitors rotating shafts 
  • Diversified by acquiring surveillance and risk management startup Cloudveil
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Quick facts: Remote Monitored Systems

Price: 0.305 GBX

LSE:RMS
Market: LSE
Market Cap: £2.36 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 led the board to change the group's name to reflect the new focus, with its wholly owned Geocurve survey and inspection unit put up for sale.

 

How is it doing?

Cloudveil formed a strategic partnership with integrated security solutions firm Axis Security Services in July.

It will be launched with the delivery of a range of specialist consultancy services at “one of Axis’s more prestigious accounts”, with Cloudveil to provide its management information platform, IRIS, at the City of London headquarters of a well-renowned professional services firm.

RMS also swam against the current by raising £265,000 at a premium, with existing shareholder Braveheart Investment Group PLC (LON:BRH) increasing its stake to around 25.8% from 24.75%.

 

What the boss says: Hugo Gillum-Webb, Cloudveil managing director  

"For a young company like Cloudveil, this is an extremely significant moment. Axis's organic growth rate is unmatched in the integrated security sector and their success and reputation, particularly in London is well deserved."

 

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