IFM Investors is investing A$40m (€28m) to buy a majority stake in Render Networks, a global provider of construction management software.

Render provides software solutions for builders and operators of telecommunications, energy and utility networks.

IFM Investors’ private equity executive director, Adrian Kerle, said: “Render Networks is well-positioned to capitalise on the connectivity boom that is increasing at pace, as well as the global transition to a net zero economy.”

Kerle said the transition would require every sector of the economy to examine all aspects of its operations and adopt technologies that helped reduce their operational footprint.

Render Networks founder, Dan Flemming, said: “This transaction will fund a number of clearly identified growth initiatives and help cement our position as a global industry leader in telco construction software.”