British Gas, a division of energy giant Centrica, will pay £7million in cash with an extra £3million linked to future earnings of BMSi which already works with Boots, airport operator BAA and communications mobile and broadband provider O2.
The acquisition of BMSi signals British Gas’ first move into the UK's expanding business energy services market which Centrica believes will grow to £2 billion over the next five years.
BMSi is a UK leader in the installation and contract servicing of specialist building controls systems aimed at improving building energy management performance and delivering significant energy and carbon savings. T
British Gas believes the deal will allow it to combine the capabilities of BMSi with its own energy expertise to provide customers with new energy management approaches and products.
It has also confirmed it is exploring other acquisitions to further build the range, scale and reach of the energy efficiency and low-carbon services it can offer business and domestic customers.
Phil Bentley, Managing Director of British Gas, said: 'With high energy costs, and with the prospect of new legislation and tighter regulation around businesses' carbon emissions, we will offer new ways to help our customers cut their energy usage and reduce their carbon footprint.
“This rapidly growing market is also being driven by changing customer attitudes and the desire of many in business to demonstrate greater corporate responsibility by reducing their energy usage and carbon footprint.
'Our new energy solutions will include building control technologies, automated monitoring and targeting and smart metering which will help businesses track energy consumption and optimise the operation of high energy consuming plant such as heating, ventilation, air conditioning and lighting.'