OpenIOLabs acquired by AIM-listed Cronin Group
The OpenIOLabs team is pleased to announce our acquisition by Cronin Group, an AIM-listed company focused on digitising chemistry. The acquisition brings together OpenIOLabs’ capabilities in developing hardware and software for science and industry with Cronin Group’s technical and strategic skills.
Our open source translator has already proved invaluable to our existing customer base and beta testing community, and we’re excited to continue our growth and development. The acquisition by Cronin Group is expected to accelerate our development by 6 months, allowing us to quickly bring more capabilities and technologies to our customers.
Cronin Group’s expertise in strategy and technical implementation will also allow us to deliver more – helping you to work more efficiently than ever before.
“This acquisition brings together complementary skills and technologies to strengthen Cronin’s technical implementation of our strategic roadmap to digitise chemistry. We are confident that the combined business will deliver an enhanced customer proposition in the fast-growing Smartlabs market and deliver good value for our shareholders. I am delighted that David Cleevely has agreed to join our board, bringing a wealth of relevant experience as we enter an exciting growth stage.”
Mark Warne, Executive Chairman of Cronin Group
As part of the acquisition, Dr David Cleevely CBE FREng FIET, Chairman of OpenIOLabs, will be appointed as a non-executive director. David has supported the business from the start, and is founded or co-founded several organisations, notably including Abcam plc, Analysys Limited, 3 WayNetworks Limited, Cambridge Wireless Limited, Cambridge Angels and Controllis Limited. David is also Chairman of the Raspberry Pi Foundation and a member of the IET Communications Policy Panel. We are delighted that he will continue to have a role within OpenIOLabs to help us grow and develop in the future.
During the next few weeks, you will hear more from us and our plans with Cronin Group. To learn more about the acquisition read the full press release.