Green light for Sky High deal
Tadcaster-headquartered Sky High has agreed a deal to acquire parts of Count on Us, a traffic data collection company with a strong market share in Wales. Count on Us is owned by Reading FC chairman Sir John Madjeski's Clearview.
The £454,000 deal, conditional on a successful placing, includes the company's leased properties in Cardiff, London and Glasgow. Sir John and Clearview have said they will participate in the fundraising.
Incorporated in 1987, Count on Us provides traffic surveys, data processing and analysis services to consulting firms, government departments and local authorities. It operates predominantly in Wales and London, areas where Sky High said it does not have a significant market share.
For the year ended 31 March 2011 Count on Us reported a pre-tax loss of £1.4m on a turnover of £3.6m. Sky High is only acquiring certain assets and some hire purchase contracts which as at 31 December 2011 had a book value of approximately £168,000.
