Microlise Group PLC on Tuesday said it has agreed to acquire K-Safe Ltd, which is the parent company to road safety products Flare and Flare Aware.
The Nottingham, England-based provider of software-as-a-service transport technology solutions to fleet operators said it has acquired both the asset and intellectual property of the company, including its two products.
It will pay a total consideration of £140,000, Microlise said.
Used by brands such as Deliveroo and Just Eat, Flare is a two-wheeled vehicle safety app which offers incident detection, incident avoidance, SOS and hazards functionality.
Flare Aware, meanwhile, is a dynamic driver hazard warning system which uses the data from Flare to provide alerts to the drivers of approaching vehicles.
The firm said the acquisition will allow it to offer Flare Aware to its customers.
It noted that it has employed K-Safe’s two staff members.
Chief Executive Nadeem Raza 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.’
Microlise shares rose 0.8% to 103.85 pence each on Tuesday afternoon in London.
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