Tuesday 9 May 2017

Centrica buys smart data and technology firm

Centrica has bought a smart data and technology solutions firm through its innovation unit.

The acquisition of New Jersey's Rokitt and the company's proprietary Rokitt Astra technology is expected to strengthen Centrica’s innovative technology pipeline and existing data management capabilities.

The Rokitt Astra software enables companies to extract meaningful information from large quantities of data through a unique set of machine learning algorithms.

The deal represents Centrica Innovations' first portfolio investment, following the department's commitment to invest £100 million over the next five years in startups and acceleration programs.

It aligns with the company's wider plan to become more involved in physical and digital technologies and innovative ideas that can deliver new products and services to both residential and business customers.

Mike Young, Centrica’s Group Chief Information Officer, said: "Digital technology, particularly big data and the actionable insights provided by data analytics, is influencing and accelerating change in many markets, including the energy market.

"Data science and analytics are core components of our long term technology strategy. The acquisition of Rokitt Astra is an exciting and value creating addition to our digital technological capability."

Campaigners recently occupied Centrica’s main office to throw an anti-fracking protest party.