Last checked at 9 Jan 2024 07:00
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 £140,000.
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 Nick Wightman, CFO | C/O SEC Newgate |
Singer Capital Markets (Nominated Adviser & Broker) | |
Steve Pearce / James Moat / Harry Gooden | Tel: 020 7496 3000 |
SEC Newgate (Financial Communications) | |
Bob Huxford / Molly Gretton / Harry Handyside | Microlise@secnewgate.co.uk |
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.