REG - Microlise Group PLC - Acquisition of K-Safe

MicroliseAnnouncement

09/01/2024 07:00

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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 £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                                                   C/O SEC Newgate

 Nick Wightman, CFO
 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.

 

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