Swift Labs acquired by Blackline Safety

On March 31, 2022, Blackline Safety Corp. (TSX: BLN) ("Blackline"), a global leader in connected safety technology, acquired Ontario-based Swift Labs Inc. ("Swift Labs"), an Internet of Things (IoT) design and engineering consulting firm. Total consideration, prior to customary adjustments, was $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.

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. 

Gowling WLG advised Swift Labs in this transaction with a team led by Todd Bissett and that included Irena Kramer, Michelle Kumar and Erin Li (corporate/M&A) and Shefali Rajaputra (employment), assisted by student-at-law Serena Ceco and law clerk Cynthia Thorne.