Cleevely boosts Cambridge LabTech business following acquisition
Cambridge serial entrepreneur Dr David Cleevely has been brought on board to help steer the global growth of local LabTech business OpenIOLabs following its acquisition by Glasgow-headquartered Cronin Group.
AIM-quoted Cronin has paid an undisclosed sum for the Cambridge company, which was formerly called Ionscope and whose CEO is Ward Hills – another experienced campaigner in the life science cluster.
Cronin Group is focused on digitising chemistry while OpenIOLabs develops hardware and software for scientific and industrial uses.
Dr Cleevely, who is chairman of OpenIOLabs, is now a non-executive director of the new company and has a thunderous track record in the space. He founded or co-founded such luminaries as Abcam plc, Analysys Limited, 3 WayNetworks Limited, Cambridge Wireless, Cambridge Angels and Controllis. He is chairman of the Raspberry Pi Foundation and a member of the IET Communications Policy Panel. He was awarded a CBE for services to innovation and technology in 2013.
OpenIOLabs provides an open source hardware translation platform for organisations working with multiple pieces of equipment in a laboratory or in an industrial environment.
It bridges the language and compatibility gap between various hardware and software, bringing different systems together to create one point of control. The acquisition by Cronin is expected to accelerate the company’s development by a minimum of six months.
Mark Warne, executive chairman of Cronin Group, said: “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.”
• PHOTOGRAPH SHOWS: Dr David Cleevely