In 2017 Veris announced a strategic decision to discontinue its foundation infrastructure business OTOC Australia, and focus on professional services with a national growth strategy in surveying, town planning and urban design.
2 years later though not announced in the recent Investor Presentation on the 17th September 2019, OTOC Australia has come back to life. Prior to the presentation its new website and a Linkedin Posts claiming "we are back come and visit us". Aqura Technologies was formally (OTOC Australia) communications arm and was spun out when OTOC was "left behind" https://www.businessnews.com.au/article/Veris-leaves-Otoc-behind
The new websites for OTOC Australia is claiming a baseline inventory of earth moving equipment (which appears to be significant), that they can assist with financing infrastructure projects?, and that the have significant in house capacity, including design through project management and delivery and telecommunications? Is this former business now new business competing with Aqura Technologies given new OTOC is claiming what Aqura Technologies does ?
The offices have a different address to Veris and Aqura, though all the projects claimed are the same and the privacy policy on the new OTOC website includes references to Whelans which suggests a cut and paste effort / error, minor as is but still of interest further the policies are worded the exactly the same ( just name changes)
Where have all these resources come from? Is the New OTOC Australia actually doing any work? Is Veris and Aqura supplementing staff for pursuits for New OTOC? If this is a new strategy, under Veris what is it, how is it funded, who is running OTOC Australia and how are these 2 entities related.
Thoughts Welcome on this, as this is not very clear.
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