Microlise Group, the provider of SaaS based transport technology solutions to fleet operators, has acquired the assets of K-Safe Limited, parent company to the road safety products Flare and Flare Aware.
Nottingham-headquartered 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, 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.
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, said: “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.”
