At a glance
- COSOL acquires AssetOn Group - a leading Australian provider of asset management software and services.
- This acquisition enables COSOL to accelerate the delivery of our end-to-end Asset Management as a Service solutions across the East Coast of Australia.
- AssetOn's SaaS products OnPlan and Master Data Services (MDS) join COSOL's growing stack of signature solutions and proprietary software.
COSOL is pleased to announce that we have entered into an agreement to acquire the Australian-based AssetOn Group Pty Ltd and OnPlan Technologies Pty Ltd (collectively known as AssetOn Group).
Since 2016, AssetOn Group has been providing high-quality asset management skills, experienced professionals, and technology solutions to major Natural Resource companies (such as Rio Tinto, Glencore, Anglo American, BHP, and BHP Mitsubishi Alliance), and the Energy and Water Utility sector (clients include Santos, AGL Energy, Arrow Energy and Sunwater.) Like COSOL, the AssetOn Group pride themselves on maintaining long-term, high-level, and growing relationships with its valued customers in asset-intensive industries.
AssetOn Group’s service offering is underpinned by its proprietary software platform OnPlan - a Software as a Service (“SaaS”) product that is an end-to-end enterprise-grade digital system for efficiently building, maintaining, and deploying asset strategy and work instructions for large industrial assets.
The AssetOn Group comprises three complementary businesses units that provide services to customers along the East Coast of Australia:
- OnPlan Asset Management Software: a solution to efficiently build, maintain and deploy asset strategy and work instructions for large industrial assets and enabling a digital workforce
- Master Data Services (MDS): a proprietary Master-Data-as-a-Service (MDaaS) solution that seamlessly integrates into the customers' Asset Management function remotely from AssetOn's offices using custom software and processes
- Professional Services: the supply of Asset Management and Master Data professionals to asset-intensive industries on a contract basis
The acquisition of AssetOn Group further supports our goal of delivering complete end-to-end Asset-Management solutions to our customers globally. By adding depth and breadth to our core capabilities, growing our team of experienced professionals, and building on our IP solution stack, we can further deliver exceptional business outcomes for our customers that are measurable by them through greater asset visibility and control, tangible cost savings, and sustainable efficiencies.
Scott McGowan, COSOL CEO said the combination of COSOL and AssetOn Group is a compelling value proposition for both our customers. “Our strategy has been to grow an ecosystem of software and services that allows COSOL to offer asset management services that make a profound difference to the management and efficiency of heavy assets for our customers,” he said.
AssetOn Director and OnPlan CEO, Stuart Burckhardt pointed out that the continued investment in the OnPlan work management platform benefitting existing and new customers. “COSOL is a customer-focused organisation with deep experience in asset management and system integration. This acquisition will support and cement the long-term partnerships we have built with existing customers and bring the benefits of OnPlan to new customers and markets.”
AssetOn Group Director - Anthony Large added, "In combination (with COSOL), we have an unrivaled set of proprietary platforms and professional services to get even better results for our customers."
Established in 2000, COSOL is now a leading global provider of asset management solutions that span the people, process, systems, and data elements of asset management. Since 2020, we have worked to expand the capabilities, services and solutions that we offer our customers worldwide. In 2020, we acquired North American company AddOns Inc., followed by Australia-based businesses Clarita Solutions in 2021 and Work Management Solutions (WMS) in 2022. The acquisition of AssetOn further builds on our goal to expand our footprint and capability by bringing expertise in asset maintenance software and services to COSOL across the East Coast of Australia. Learn more about Our History.
About AssetOn Group
In 2016, AssetOn was established in Australia to satisfy the demand for high-quality maintenance and asset management professionals within asset heavy industries. Since then, AssetOn has become the leading Australian provider of asset management skills, experience, and technology solutions and offer an expanded range of services to address asset management and maintenance inefficiencies. Learn more about AssetOn.