Checkit could pay £12m for Crimson Tide

Checkit specialises in augmented workflow and smart sensor automation for frontline workers; Crimson Tide specialises in mpro mobile business solutions.

Kit Kyte, Chief Executive Officer of Checkit, revealed that the move had been on the cards for a while. He said: “The Checkit board has long believed that the combination of Checkit and Crimson Tide is an obvious and positive strategic step for both companies.

“We believe it will position the enlarged entity as a market leader in workflow software solutions, leveraging the strengths of both organisations for enhanced profitability and competitive advantage whilst being more attractive to existing and potential new investors.

“Most importantly, the Checkit board believes that the combination of the two businesses has the potential to deliver value for both sets of shareholders.

“Checkit’s stable management team and the board have a track record of successfully integrating acquired businesses. I look forward to presenting the strategic rationale and benefits of this potential combination to Checkit and Crimson Tide shareholders.”