Business of Drivenlower Ltd rescued from administration

The administrators of Drivenlower Limited, Oxfordshire, Sue Staunton and Sandra Mundy of Accountants and business advisors James Cowper Kreston have sold its trade and assets including all intellectual property to a new company DL123 Limited funded by the families of the secured creditors Martin Urquhart and Nigel Trilk.

The Board of Drivenlower Limited announced on Friday 5 July 2013 that the firm had been placed into administration after it had failed to secure new funding and the sale was completed the same day.

The new company will continue to grow and develop the business through product development and technical leadership. DL123 Limited uses patented self fit telematics technology to profile drivers for insurance companies which provides second-by-second analysis of individual driving styles. The harvested data gives insurers a detailed insight of road behavior and uniquely allows them to monitor their risk exposure and determine policy-pricing strategies more accurately.

Sue Staunton partner from James Cowper Kreston comments: “I am pleased we have been able to secure a buyer and work with them to complete the transaction so quickly. We realised a fair price for the business assets given the industry sector.”

Sue Staunton, Partner, James Cowper Kreston LLP, Tel +44 (0)1865 861166 or email