Blackline Safety Corp. (TSX: BLN) ("Blackline" or "Blackline Safety"), a global leader in connected safety technology, today announced it has acquired Ontario-based Swift Labs Inc. (“Swift Labs”), an Internet of Things (IoT) design and engineering consulting firm, for $5 million in a combination of cash and shares.
Founded in 2014 by technology experts from Blackberry, Nortel and Apple, Swift Labs leverages its deep technical talent across all aspects of wireless product design and development to help companies connect their products to the cloud. Swift Labs has provided end-to-end service from product design, testing and delivery to customers in global markets. In 2021, Swift Labs generated $4M in revenue serving leading global enterprises.
The acquisition of Swift Labs advances Blackline’s strategy to connect workers through technology by enhancing our industry-leading product development expertise. The acquisition will enable Blackline to accelerate its pace of innovation by expanding its product development capacity.
"I am excited to welcome Swift Labs and its people to the Blackline Safety team. 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. “Swift Labs will accelerate the advancement of our product roadmap, while also providing additional capacity to seek further opportunities to connect un-connected hardware throughout the industrial workplace.”
“The acquisition of Swift Labs positions us to better serve our global customers and help them redefine the future of industrial work through technology,” added Slater.
Blackline’s suite of products and data analytics connects workers through location-enabled wearable devices and cloud-connected monitoring to help its customers drive towards zero safety incidents, improved performance, greater productivity and a stronger ESG profile.
I’m thrilled to have found such a strong synergy with Blackline Safety with overlapping values, cultures, growth strategies and commitment to ESG policies 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.”
Lara Swift, founder and CEO of Swift Labs.
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.”
About Blackline Safety
Blackline Safety is a technology leader driving innovation in the industrial workforce through IoT. With connected safety devices and predictive analytics, Blackline enables companies to drive towards zero safety incidents and improved operational performance. 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.