- Workplace systems platform Damstra (DTC), continues to push its vision for a ‘paperless workplace’ after acquiring a new asset
- The Australian company confirmed the $5.5 million purchase of APE Mobile this week
- APE is built around improving workplace regulation and compliance on construction and engineering project sites via a digital platform
- Damstra made the purchase with its shares and cash reserves
- Shares in Damstra grew 8.16 per cent for a value of $1.06 by the end of Thursday close
Safety and compliance management platform Damstra (DTC) has expanded its business with the purchase of APE Mobile.
The Australian-based provider confirmed the $5.5 million purchase on Thursday this week.
APE Mobile is globally run and operated by Applied Project Experience. The workplace logistics software specialises in assisting construction sites and civil engineering projects.
The platform can completely digitise the safety and compliance requirements on a constructions site — helping them say goodbye to paper.
The software can assist in inspections and audits, risk assessments, incident and hazard management, and health and safety.
“APE Mobile’s core solution is a logical extension of our existing product suite, further strengthening our differentiated offering and reflecting our approach to developing technology that supports client needs,” Damstra Chief Executive Christian Damstra said.
“We aim to fast-track Damstra’s vision of making site operations totally paperless, enhancing our value proposition of delivering digital workplace management within a fully integrated solution.”
Damstra made the purchase of APE with $2.5 million in cash from existing reserves, and issue of its own shares equivalent to $3 million.
APE was birthed in 2013 and as of today holds roughly 90 customers on its platform. Clients include mining and construction entities across America and the U.K.
Damstra management explained this week that it values APE Mobile’s real-time data flow the most.
The company says the integration after purchase will bring users more consistent information, greater collaboration, progress monitoring, reduced cost of rework, and improved safety and compliance for on-site operations.
Shares in Damstra increased 8.16 per cent on Thursday, closing at $1.06 apiece.