Crimson Tide PLC
08 December 2006
FOR RELEASE 7:00AM 8 DECEMBER 2006
Crimson Tide Plc
('Crimson Tide' or 'the Group' or 'the Company')
Acquisition of Intelligent Data
Crimson Tide is pleased to announce that it has completed the acquisition of the
entire issued share capital of Intelligent Data Limited ('Intelligent Data'),
which provides mobile data solutions and other software solutions. Intelligent
Data is based in Dublin, Ireland.
The acquisition will give Crimson Tide access to Intelligent Data's mobile data
solutions, expand the customer base and give geographical expansion for Crimson
Tide's own mobile data solutions.
IAF Securities Limited acted as adviser to the Company in respect of this
transaction.
Barrie Whipp, the Chairman of Crimson Tide, made the following comments:
'We believe that the acquisition of Intelligent Data is a great opportunity for
Crimson Tide, giving us access to 400 new customers and further expanding the
Company's geographic footprint.
This acquisition provides us with a solid platform from which we will continue
to grow and develop. As a result of the acquisition, the Group now has eight
additional employees, and will be able to sell Intelligent Data solutions in the
UK and Crimson Tide solutions in Ireland, opening a range of synergies between
the companies. We will continue to look for further acquisitions which fit into
our strategic expansion plans.'
For further information contact:
Crimson Tide plc
Barrie Whipp (Executive Chairman) 01892 542 444
Stephen Goodwin (Chief Executive)
Cubitt Consulting
Brian Coleman Smith/Leanne Denman 020 7367 5100
About Crimson Tide:
• Crimson Tide plc is a growing provider of mobile data solutions on
handheld devices and smartphones
• The Company supplies solutions on a subscription basis, to a wide range
of customers including small & medium size enterprises as well as larger
organisations such as the NHS.
• Founded in 1996 Crimson Tide completed the reverse takeover of A. Cohen
& Co. Plc admitting to AIM in August 2006
This information is provided by RNS
The company news service from the London Stock Exchange