We are pleased to announce that Asset Vision has been acquired by Future First Technologies Limited (ASX:FFT), a publicly listed technology company based in Melbourne, effective 2nd November 2020.

This acquisition is a testament to the success and growth of the Asset Vision Platform, a milestone we could not have achieved without our amazing team and loyal clients.

Future First Technologies will bring management, sales and marketing expertise into the fold, and our existing team will remain in place to focus on supporting our clients and further developing our technology.


Commenting on the acquisition, Renata Sguario, Chairman of Future First Technologies said:

“We see the acquisition of Asset Vision as further endorsement of our stated strategy to create shareholder value through the ownership and commercialisation of digital assets in significant growth markets.

Asset Vision has established itself as serious market participant and we see a substantial opportunity to add our sales and marketing expertise to accelerate revenue growth exponentially.

I am delighted to add Damian Smith, co-founder and Managing Director of Asset Vision to the Future First Technologies’ team in a senior executive role as Chief Product Officer, and also extend a warm welcome to his exceptional team.”


Co-Founder and Managing Director of Asset Vision, Damian Smith, commented:

“This acquisition is an incredibly important milestone in the story of Asset Vision. We have spent the past three years extensively enhancing our software platform, underpinning Asset Vision with the right technology framework, modern UI and expansive feature sets to open up new markets and opportunities, all whilst continuing to win new business.

Our product offering is compelling and disruptive in the market, and our longstanding team is highly motivated and committed to ensuring our ongoing success.

Through our continuous innovation in technology, by listening and working with our valued clients, and having the right team and resources in place to drive sales and marketing, the future of Asset Vision has never looked better.”

FUTURE FIRST TECHNOLOGIES IS COMMITTED TO SHAPING THE FUTURE BY BUILDING A PORTFOLIO OF INNOVATIVE DIGITAL PLATFORMS DESIGNED TO MAKE LIFE SIMPLER AND SAFER.

Ventia has chosen to implement the Asset Vision platform to record and manage their Road Asset Management Contract (RAMC) with the Department of Transport and Main Roads (TMR) in Queensland, Australia.

Ventia have provided services for TMR via the Generation 1 RAMC since 2013, and were awarded the Generation 2 RAMC in 2019 for a further five years. This contract will see the team at Ventia provide asset management services, road pavement and drainage maintenance activities and a significant program of road rehabilitation, overlay and reseal works across Queensland’s South East Coast state and national road network from 1 July 2019.

After utilising the Asset Vision Platform for a number of years on various projects, Ventia made the decision to expand its use into its Gen 2 RAMC to better manage its assets and is also adopting our Co Pilot add-on, to promote safe and efficient road inspection practices. Co Pilot enables a road inspector to record defects at the click of a button, using GPS location capture, photos and voice recognition, all without having to stop their vehicle or take their hands off the wheel.

Our team is currently working closely with Ventia to configure Asset Vision to suit their operational requirements, as well as migrate Asset Register data and maintenance history from their existing system. Asset Vision is expected to go live across the RAMC contract in late October 2020.

Ventia is one of the largest essential services providers in Australia and New Zealand. Ventia is an independent partnership between funds managed by affiliates of Apollo Global Management and the CIMIC Group and was created in 2015 following the merger of Leighton Contractors Services division, Thiess Services and Visionstream.

In 2020, Ventia grew to combine more than 50 years’ of industry knowledge and experience with the acquisition of Broadspectrum (formally Transfield Services) and today has over 35,000 talented people and subcontractors across Australia and New Zealand.

For more information on Ventia, please visit:
https://www.ventia.com/


The Road Asset Management Contract (RAMC) was introduced to South East Queensland in 2013 as a nominal 5-year term contract providing a holistic approach to the provision of asset management and maintenance services.

The Contractor provides a stewardship role and works collaboratively with the department to keep the road network safe and serviceable and to improve the sustainability of the network.

Upon expiry of original RAMC contracts awarded in 2013, generation 2 RAMC contracts were awarded April 2019 and works commenced from 1st July 2019 for an initial period of 5 years.

More information can be found here:
https://www.tmr.qld.gov.au/business-industry/Technical-standards-publications/Road-Asset-Management-Contract

LOOKING FOR A COMPREHENSIVE ASSET REGISTER, ASSET MAINTENANCE AND OPERATIONS SOLUTION?

Asset Vision has now been successfully implemented as the Asset Management platform to record and manage the Asset Register, Inspections and Maintenance of all infrastructure assets on the Dulles Greenway toll road in Northern Virginia, owned by Atlas Arteria and operated under concession by Toll Road Investors Partnership II LP (TRIP II).

Asset Vision now provides TRIPII with a comprehensive Asset Register containing details of all assets under management, as well as the ability to record all inspections and maintenance management activities for the Dulles Greenway toll road. These operations includes a large number assets including bridges/structures, safety barriers, signs, gantries, bridges, culverts, vegetation areas and buildings.

Due to the logistical challenges surrounding the COVID-19 pandemic, we are very pleased that the Asset Vision Platform was successfully implemented without any site visits or physical project meetings with TRIPII staff. Our teams braved the international time zone differences and came together for regular Zoom meetings to discuss all aspects of the project, as well as provide training sessions.

In addition, to help build out the Asset Register for Wire Rope and Ground Mounted Signage, we leveraged Artificial Intelligence (AI) technology to identify and capture the spatial information, images and attributes for these assets based on supplied drive-through footage from TRIP II.

We thank the team at TRIP II for working with us remotely during these past months, and we are proud of what we have accomplished together!

The Dulles Greenway is a privately owned 14-mile toll road that connects Washington Dulles International Airport with Leesburg, Virginia. The Greenway is the first private toll road in Virginia since 1816.

Since the Greenway’s dedication on September 29th 1995, commuters have enjoyed a non-stop alternative to Routes 7 and 28. Previously, a trip from Leesburg to Dulles during rush hour would take approximately 30 minutes. That same trip, utilizing the Greenway’s 65mph speed limit and complete lack of traffic signals, is now less than 15 minutes.

The Greenway also maximizes traffic flow by offering electronic toll collection through the Virginia Department of Transportation’s Smart-Tag/E-ZPass System. Smart-Tag/E-ZPass is the quickest, most convenient toll payment method available. The Greenway’s Smart-Tag/E-ZPass lanes process six times as many vehicles per hour as conventional cash payment lanes.

The Greenway is a leading example of the current trend towards the privatization of public facilities. The Greenway demonstrates how the public and private sectors can join together to supplement the existing transportation infrastructure without raising taxes. This project represents a new paradigm for cooperation between the public and private sectors for resolving infrastructure issues.

For more information on the Dulles Greenway, visit this link: https://www.dullesgreenway.com/

Atlas Arteria (ALX), previously known as Macquarie Atlas Roads (MQA), was created out of the reogranisation of Macquarie Infrastructure Group into two separate ASX listed toll road groups in 2010. They are a global owner, operator and developer of toll roads in France, Germany and the United States.

For more information on Atlas Arteria, visit this link: https://www.atlasarteria.com/

LOOKING FOR A COMPREHENSIVE ASSET REGISTER, ASSET MAINTENANCE AND OPERATIONS SOLUTION?

Goulburn Mulwaree Council has chosen to implement the Asset Vision platform to record and manage their Road Maintenance Council Contract (RMCC) with Transport for NSW (TfNSW).

Goulburn Mulwaree Council has been using Asset Vision to support its Asset Inspection and Maintenance objectives, across their Local Road Network for over 12 months. The decision to utilise Asset Vision for their RMCC contract was a natural extension, as the Asset Vision platform integrates with TfNSW data and reporting requirements.

The Asset Vision Platform has the ability to share maintenance responsibilities across multiple organisations and clients, in a seamless and efficient architecture. With TfNSW already using the Asset Vision platform across the NSW road network, Goulburn Council is able to seamlessly connect their organisation with TfNSW in Asset Vision, to record and undertake RMCC inspection and maintenance activities in Asset Vision, with both parties to benefit from a seamless and transparent reporting and operational works delivery process.

Goulburn Mulwaree Council is a local government area located in the Southern Tablelands of New South Wales, encompassing Goulburn, Marulan, Tarago, Towrang and other villages.

The council was formed in 2004 as the Greater Argyle Council as an amalgamation of Goulburn City and parts of the former Mulwaree Shire. It was renamed in 2005 to Goulburn Mulwaree Council.

Goulburn Mulwaree Council encompasses a land area of 3223 square kilometers, and has a current population of 30,852 people.

The RMCC establishes a collaborative contractual relationship between Transport for NSW (TfNSW) and NSW Councils, with both parties committed to shared values and trust. The concept of continuous improvement is central to the RMCC. Councils are being invited to participate in a process which aims to lift the standard of risk and asset management by fostering the exchange of ideas, work practices and planning methodologies, with the ultimate result of improving value for money.

More information can be found here:
https://www.rms.nsw.gov.au/business-industry/partners-suppliers/lgr/arrangements-councils/road-maintenance-council-contracts.html

LOOKING FOR A COMPREHENSIVE ASSET REGISTER, ASSET MAINTENANCE AND OPERATIONS SOLUTION?

City of Newcastle has chosen Asset Vision to record and manage its Road Maintenance Council Contract (RMCC) with Transport for NSW (TfNSW).

City of Newcastle was looking for an easy to use solution, which could support its Asset Inspection and Maintenance objectives for their RMCC contract with TfNSW, and which also has the capability to expand to support it’s own Council-owned asset portfolio.

One of the in-built benefits of the Asset Vision Platform is the ability to share maintenance responsibilities across multiple organisations, in a seamless and efficient manner. With TfNSW already utilising Asset Vision across the NSW road network, City of Newcastle is able to seamlessly connect their organisation in Asset Vision, with TfNSW, to undertake their maintenance activities in Asset Vision with both parties to benefit from a seamless and transparent reporting process.

At a later date, City of Newcastle can also connect its Council-owned asset portfolio to Asset Vision, and manage everything from the one platform.

Asset inspectors at City of Newcastle will also utilise our innovative Co Pilot add-on hands free Inspection module, for efficient and safe road network inspections.

Situated on the east coast of NSW, Newcastle is surrounded by golden sand beaches, a breathtaking coastline and a beautiful working harbour. The cafes, restaurants and bars, unique architecture and rich history stretch from the city to the suburbs.

For more information on City of Newcastle, please visit:
https://newcastle.nsw.gov.au/

The RMCC establishes a collaborative contractual relationship between Transport for NSW (TfNSW) and NSW Councils, with both parties committed to shared values and trust. The concept of continuous improvement is central to the RMCC. Councils are being invited to participate in a process which aims to lift the standard of risk and asset management by fostering the exchange of ideas, work practices and planning methodologies, with the ultimate result of improving value for money.

More information can be found here:
https://www.rms.nsw.gov.au/business-industry/partners-suppliers/lgr/arrangements-councils/road-maintenance-council-contracts.html

LOOKING FOR A COMPREHENSIVE ASSET REGISTER, ASSET MAINTENANCE AND OPERATIONS SOLUTION?

Asset Vision has been chosen as the Asset Management platform to record and manage the Inspections and Maintenance during Stage Two of the $1.4 billion Monash Freeway Upgrade in Melbourne’s South East.

Asset Vision was previously used by Transurban and Fulton Hogan during Stage 1 of the Monash Freeway Upgrade project from 2016 to 2018.  Stage 2 of the Monash Freeway Upgrade project will be undertaken by CPB Contractors, with Day Civil and Road Services undertaking the maintenance.

Asset Vision will be used daily to identify and record inspections, defects and rectification works as part of this project until its completion in 2022.

Our Asset Vision Co Pilot add-on will be used as part of the inspection process, enabling inspectors to do their job safely, particularly in areas that are under heavy construction where they may not be able to stop and exit their vehicle.

ABOUT THE MONASH FREEWAY UPGRADE

As part of Monash Freeway Stage 1, 30kms of extra traffic lanes were added.
The freeway was widened:

  • from 4 to 5 lanes in each direction, between EastLink interchange and South Gippsland Freeway
  • from 2 to 3 lanes in each direction, between South Gippsland Freeway and Clyde Road in Berwick

Work on Stage 1 of the Monash Freeway Upgrade commenced in September 2016 and it was completed in June 2018.

As part of Stage 2, 36kms of new lanes will be added between:

  • Warrigal Road and Eastlink
  • Clyde Road and Cardinia Road.

Stage 2 will include:

  • 36kms of new lanes on the Monash and Princes Freeways, between:
    • Warrigal Road and Eastlink outbound
    • Eastlink to Springvale Road inbound
    • Clyde Road to Cardinia Road, in both directions
  • connecting Police Road to the freeway with an outbound on-ramp
  • connecting the Jacksons Road outbound ramps directly to Eastlink with a separate road
  • upgrading O’Shea Road to three lanes in each direction between Clyde Road and Soldiers Road
  • extending O’Shea Road to join the Beaconsfield interchange – we’ll also upgrade the interchange by adding an inbound freeway off-ramp and an outbound freeway on-ramp
  • building a shared walking and cycling path on O’Shea Road between Clyde Road, Berwick and the Princes Highway, Beaconsfield.

For more information relating to the Monash Freeway Upgrade, please visit: https://roadprojects.vic.gov.au/projects/monash-freeway-upgrade

ABOUT CPB CONTRACTORS

CPB Contractors is the CIMIC Group’s construction company, with a team of around 23,000 people working at operations across Australia, New Zealand, Papua New Guinea, Asia and India.

CPB Contractors combines the construction expertise and track record of two leading companies:

  • The former Leighton Contractors, which was the founding company of the CIMIC Group in 1949.
  • Thiess, formed in 1934 and now operating as the mining company of the CIMIC Group.

CPB Contractors delivers major projects across all key sectors of the construction industry, including roads, rail, tunnelling, defence and building.

For more information on CPB Contractors, visit: https://www.cpbcon.com.au/

LOOKING FOR A COMPREHENSIVE ASSET REGISTER, ASSET MAINTENANCE AND OPERATIONS SOLUTION?

Asset Vision has been chosen as the Asset Management platform to record and manage the Asset Register, Inspections and Maintenance of all infrastructure assets on the Dulles Greenway toll road in Northern Virginia, owned by Atlas Arteria / TRIP II.

The project will encompass all asset and maintenance management activities for the Dulles Greenway toll road, including the road pavement carriageways, bridges/structures, safety barriers, signs, gantries, vegetation areas and buildings.

The Asset Vision Platform will be ready for production use by Atlas Arteria in the second half of 2020.


The Dulles Greenway is a privately owned 14-mile toll road that connects Washington Dulles International Airport with Leesburg, Virginia. The Greenway is the first private toll road in Virginia since 1816.

Since the Greenway’s dedication on September 29th 1995, commuters have enjoyed a non-stop alternative to Routes 7 and 28. Previously, a trip from Leesburg to Dulles during rush hour would take approximately 30 minutes. That same trip, utilizing the Greenway’s 65mph speed limit and complete lack of traffic signals, is now less than 15 minutes.

The Greenway also maximizes traffic flow by offering electronic toll collection through the Virginia Department of Transportation’s Smart-Tag/E-ZPass System. Smart-Tag/E-ZPass is the quickest, most convenient toll payment method available. The Greenway’s Smart-Tag/E-ZPass lanes process six times as many vehicles per hour as conventional cash payment lanes.

The Greenway is a leading example of the current trend towards the privatization of public facilities. The Greenway demonstrates how the public and private sectors can join together to supplement the existing transportation infrastructure without raising taxes. This project represents a new paradigm for cooperation between the public and private sectors for resolving infrastructure issues.

For more information on the Dulles Greenway, visit this link: https://www.dullesgreenway.com/


Atlas Arteria (ALX), previously known as Macquarie Atlas Roads (MQA), was created out of the reogranisation of Macquarie Infrastructure Group into two separate ASX listed toll road groups in 2010. They are a global owner, operator and developer of toll roads in France, Germany and the United States.

For more information on Atlas Arteria, visit this link: https://www.atlasarteria.com/

LOOKING FOR A COMPREHENSIVE ASSET REGISTER, ASSET MAINTENANCE AND OPERATIONS SOLUTION?

Asset Vision Co-Pilot is now available as an add-on to the Asset Vision platform, and allows Asset Inspectors to capture defects safely and efficiently, without having to take their hands off the wheel or stop the vehicle.

Defects are automatically saved into the Inspection Route which is being undertaken, and a burst of photos are saved into the defect record – all taken from your smartphone camera!

A Bluetooth smart-button mounted to the steering wheel allows for safe interaction with the Co-Pilot functionality, and speech recognition converts your voice dictation into meaningful text.

Further information is available at www.assetvision.com.au/our-platform/co-pilot

LOOKING FOR A COMPREHENSIVE ASSET REGISTER, ASSET MAINTENANCE AND OPERATIONS SOLUTION?