Blackline Safety Acquires IoT Expert Swift Labs to Expand Connected Worker Portfolio
Summary
The acquisition of Swift Labs advances Blackline’s strategy to connect workers through technology by enhancing our industry-leading product development expertise. Over the last three years of working with Swift Labs, they have proven to be the right partner to help us accelerate our connection of the industrial workplace,” said Cody Slater, CEO and Chair of Blackline Safety. “Joining forces with a global market-leading company like Blackline will maximize the reach of our products and services, while ensuring that the nation’s top tech talent remains in Canada—one of the reasons I founded this business.” Slater added, “The acquisition of Swift labs will not only bring us a highly experienced, talented team of IoT professionals, but also a range of monitoring products that will strengthen Blackline’s overall portfolio after integration.” The transaction closed March 31, 2022 for total consideration, prior to customary adjustments, of $5 million comprised of $3.2 million in cash and the issuance of an aggregate of 270,776 common shares in the capital of Blackline. Blackline provides wearable devices, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with coverage in more than 100 countries. Armed with cellular and satellite connectivity, Blackline provides a lifeline to tens of thousands of people, having reported over 177 billion data-points and initiated over five million emergency responses.