PremiSys Technologies, the parent company of the construction portal Asite, will change its name to Asite plc in a bid to capitalise on the strength of the brand.
The company will also be restructured to put the web site at the centre of future business.
Sir John Egan will become chairman of Asite plc, while PremiSys’ current chairman Walter Goldsmith will be deputy chairman.
Egan said: “These developments represent a very exiting and positive commitment to the continued growth of Asite.”
Asite was set up as part of PremiSys in October 2000 by Stanhope and Rotch Property to offer a range of web-based catalogue purchasing, tendering and project collaboration services to the UK construction industry.
Since then it has attracted notable backers from the property world, including the UK’s largest property group Land Securities and Grosvenor, the UK’s largest private property company.
Other equity partners in the site include MEPC, Standard Life Investments, BAA, Morley Fund Management and Sainsbury’s.
Since its official launch in June Asite has generated £3m in revenues.
EGi News 07/12/01
