Crimson Tide Regulatory News (TIDE)

8 Dec 2006 07:01

Crimson Tide PLC08 December 2006 FOR RELEASE 7:00AM 8 DECEMBER 2006 Crimson Tide Plc ("Crimson Tide" or "the Group" or "the Company") Acquisition of Intelligent Data Crimson Tide is pleased to announce that it has completed the acquisition of theentire issued share capital of Intelligent Data Limited ("Intelligent Data"),which provides mobile data solutions and other software solutions. IntelligentData is based in Dublin, Ireland. The acquisition will give Crimson Tide access to Intelligent Data's mobile datasolutions, expand the customer base and give geographical expansion for CrimsonTide's own mobile data solutions. IAF Securities Limited acted as adviser to the Company in respect of thistransaction. Barrie Whipp, the Chairman of Crimson Tide, made the following comments: "We believe that the acquisition of Intelligent Data is a great opportunity forCrimson Tide, giving us access to 400 new customers and further expanding theCompany's geographic footprint. This acquisition provides us with a solid platform from which we will continueto grow and develop. As a result of the acquisition, the Group now has eightadditional employees, and will be able to sell Intelligent Data solutions in theUK and Crimson Tide solutions in Ireland, opening a range of synergies betweenthe companies. We will continue to look for further acquisitions which fit intoour strategic expansion plans." For further information contact: Crimson Tide plc Barrie Whipp (Executive Chairman) 01892 542 444 Stephen Goodwin (Chief Executive)Cubitt Consulting Brian Coleman Smith/Leanne Denman 020 7367 5100 About Crimson Tide: • Crimson Tide plc is a growing provider of mobile data solutions on handheld devices and smartphones • The Company supplies solutions on a subscription basis, to a wide range of customers including small & medium size enterprises as well as larger organisations such as the NHS. • Founded in 1996 Crimson Tide completed the reverse takeover of A. Cohen & Co. Plc admitting to AIM in August 2006 This information is provided by RNS The company news service from the London Stock Exchange