Microlise Group PLC Acquisition of K-Safe (0078Z)
09 January 2024 - 6:00PM
UK Regulatory
TIDMSAAS
RNS Number : 0078Z
Microlise Group PLC
09 January 2024
09 January 2024
Microlise Group plc
("Microlise", "the Group" or "the Company")
Acquisition of K-Safe
Microlise Group plc (AIM: SAAS), a leading provider of SaaS
based transport technology solutions to fleet operators, is pleased
to announce the acquisition of the assets of K-Safe Limited, parent
company to the road safety products Flare and Flare Aware.
Microlise has acquired all assets and the IP from K-Safe, which
includes their two products Flare and Flare Aware for a total
consideration of GBP140,000.
Flare is a multi-award-winning platform with over 3.5 million
regular users, helping leading brands such as Deliveroo, Just Eat
as well as 2 wheeled vehicles (cyclists, motorcyclists,
e-scooters), to better understand and react to mobility risk and
safety issues. The mobile app delivers users incident detection,
incident avoidance, SOS and hazards functionality, to ensure they
are safe whilst travelling on public roads.
Flare Aware is a dynamic driver hazard warning system, jointly
developed with Microlise, which utilises the data captured from the
Flare mobile app user network, to provide awareness and alerts to
the drivers of vehicles approaching fixed hazards such as low
bridges, weight restrictions etc. and dynamic hazards such as
cyclists and motorcyclists.
The acquisition will now enable Microlise to exclusively offer
Flare Aware to its customers, with dynamic hazard warnings only
being made possible due to the Flare mobile app user network. This
dynamic hazard solution, combined with the existing functionality
of Microlise's hazard warning product offering, creates a unique
and attractive safety product for logistics operators, with
Microlise customers already successfully trialling the product in
operations and looking to roll out implementations.
Microlise has employed K-Safe's two staff members into its
business, with all customer contracts being novated. The
acquisition for the Liverpool based company is a part of a
pre-packaged deal following the appointment of Begbies Traynor
Group Limited
Nadeem Raza, CEO of Microlise, commented: "We are excited to
have acquired the assets of K-Safe, giving us exclusive access to
the Flare and Flare Aware products. The Flare product also expands
our market offerings to the fast-growing last mile solution space,
and the 2-wheel vehicle space globally."
For further information, please contact:
Microlise Group plc
Nadeem Raza, CEO C/O SEC Newgate
Nick Wightman, CFO
Singer Capital Markets (Nominated
Adviser & Broker)
Steve Pearce / James Moat Tel: 020 7496 3000
/ Harry Gooden
SEC Newgate (Financial Communications)
Bob Huxford / Molly Gretton Microlise@secnewgate.co.uk
/ Harry Handyside
About Microlise
Microlise Group Plc is a leading provider of transport
management software to fleet operators helping them to improve
efficiency, safety, and reduce emissions. These improvements are
delivered through reduced fuel use, reduced mileage travelled,
improved driver performance, fewer accidents, elimination of
paperwork and delivery of an enhanced customer experience.
Established in 1982, Microlise is an award-winning business with
over 400 enterprise clients. With 463 employees based at the
Group's headquarters in Nottingham in the UK, the Company also has
offices in France, Australia, and India, with a total global staff
base of over 670.
Microlise is listed on the AIM market of the London Stock
Exchange (AIM: SAAS) and qualifies for the London Stock Exchange's
Green Economy Mark.
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END
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