The deal comes just weeks after Pagabo announced plans to introduce mental health clauses into its procurement documents.
Pagabo owner The 55 Group first worked with Moodbeam in 2019 when its wearable wristbands were used on site to gauge how workers were feeling.
Moodbeam has dispensed with the wristbands and now offers online and mobile dashboards for contractors to monitor the morale of their workforce.
Gerard Toplass, group CEO of The 55 Group, said: “Moodbeam is a really unique piece of technology, so we’re really pleased to be announcing this acquisition and bringing it into our suite of software at The 55 Group.
“Our mission is to utilise technology to create a better world, with our structure providing a platform for growth and integration between our brands. This will be no different as we bring Moodbeam into our wider portfolio, where it will have a significant impact on the construction industry and seek to remove the taboo that still sadly exists.
“The construction sector goes the distance when looking after physical health due to the close association with safety, but as our wider understanding of mental wellbeing grows it cannot be ignored.”
Moodbeam was founded in 2016 by the Gadget Shop founder and Red5 co-founder, Jonathan Elvidge, and former journalist Christina Colmer McHugh, who devised Moodbeam after her daughter became anxious at school.
Companies House records show Moodbeam Ltd went into voluntary liquidation last month.