Companies

Crimson Tide

Overview

Crimson Tide provides remote access to e-mails and mobile field sales systems via handheld computers and mobile phones. It reversed into former metals trader turned cash shell A Cohen on 22 August 2006. Cohen, had been looking for an acquisition for at least three years following its transfer from the Main Market in 2003. It paid 3m in shares - at 1.5p a share - for Crimson Tide. The business also raised 500,000 net at 1.5p a share in order to boost marketing and finance growth in the business. The service can be used on Palm, and Blackberry handheld computers. It is sold on a subscription basis on a charge per month for each user. Crimson Tide supplies the handheld computer, hosts the service and provides software. Although Crimson Tide has been a software company since the 1990s the mobile data services part of the business has only been going since 2003. At the end of 2006 Crimson Tide paid an initial 220,000 in cash and shares for Ireland-based mobile data services provider Intelligent Data. Crimson Tide raised 220,000 at 1p a share in June 2007 and 300,000 at 1.21875p a share in April 2008. www.crimsontide.com

Sector: Telecoms

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