Tue, 09 Jan 2024 | BUSINESS SALE
K-Safe, a provider of road safety products, has been acquired out of administration in a pre-pack deal. The company’s assets and IP, including its two products, Flare and Flare Aware, have been acquired by Microlise Group, a listed firm supplying transport management software to fleet operators.
The Flare platform has over 3.5 million regular users, including brands such as Just Eat and Deliveroo, as well as motorcyclists, cyclists and e-scooter riders. The app provides incident detection and avoidance, hazards and SOS, helping users to improve their understanding of and reaction to mobility risks and safety issues.
Flare Aware, which was developed jointly with Microlise, is a driver hazard warning system. The platform utilises data captured via the Flare mobile app network to provide awareness and alerts for vehicle drivers when approaching fixed weight hazards, such as weight restrictions and low bridges.
Nottingham-based Microlise acquired the Liverpool-based company upon the appointment of Begbies Traynor as administrators. Following the acquisition, K-Safe's two staff members have been recruited to Microlise, while all customer contracts are being novated.
The acquisition was for a total consideration of £140,000. In K-Safe's accounts for the six months ending April 20 2022, its net assets were valued at over £282,000.
Microlise Chief Executive Nadeem Raza 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 two-wheel vehicle space globally."
Find out more about Microlise's M&A-led growth strategy
Logistics providers are responding to challenges by using M&A deals to add new technologies
This is a rare opportunity to acquire the trade and assets of a company providing technology software services throughout the uk and globally.
An opportunity has arisen to acquire an IT company based in Aberdeenshire. This profitable business has grown consistently since it was established in 1989 to provide a portfolio of key IT support and services to its loyal customer base throughout Sc...
Established UK based software product company, that is focused on producing innovative and transformational large-scale software solutions to manage complex Networks, IT infrastructure and Services for Telecoms Operators & CSP’s, Smart Energy, Large...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.