FireAngel Tie-up with Mears
FireAngel shares increased by a fifth on the back of the Mears tie-up.
15:48 24 September 2018
FireAngel shares soared after finalising its tie-up with Mears, which is responsible for the maintenance, repair and upgrade of over 700,000 properties across the UK. Shares in FireAngel were up by 21per cent while Mears shares jumped by 3.5per cent.
Under the deal, FireAngel will supply Mears with an integrated, connected home management system using its wireless interlink technology to link its smoke, heat and carbon monoxide alarms to a cloud-based system.
In a statement, FireAngel’s executive chairman Graham Whitworth said: “By integrating our technological expertise in the home safety sector into Mears’ solution, we believe that FireAngel can significantly enhance the quality of service and support through a range of connected safety monitoring devices for housing tenants across the UK,”
“We see the system as the enabling technology that will allow FireAngel to capitalise on the wealth of opportunities in the UK trade sector and generate increased sales of our higher value trade alarms and devices,” he added.
Mears’ CEO David Miles added: “We are witnessing a transition to integrated technologies and the FireAngel system will enable us to centralise those technologies into one central hub. We look forward to introducing the FireAngel solution to our clients across the footprint”