Intertek buys US software company ATI for £10m

Intertek Group, which tests, inspects and certifies products for everyone from Shell to Nestlé, ticked up 0.6% to £24.92 after it bought a US company that provides software for the power sector. The company spent $16m (£10m) on ATI, which makes software to record and collate data on testing and inspections. The idea is that companies can then plan better and optimise maintenance work during scheduled outages. Chief executive Wolfhart Hauser said the California-based company would complement Intertek's existing services for power, oil, gas, petrochemical, renewable energy and other infrastructure companies. Intertek also said it had won more than £5m of new contracts for oil and gas technical inspection, training and staffing over the past six months through its North Sea Moody businesses. Intertek bought Moody International last year for £450m. It has ploughed £15m into a new headquarters in Aberdeen for its energy services division, where the Intertek Moody teams will be based.