Clarity Commerce Solutions PLC
01 November 2004
CLARITY COMMERCE ACQUIRES RESORT SOFTWARE SUPPLIER
Clarity Commerce Solutions plc ('Clarity'), a leading supplier of software
management solutions for the leisure sector, has acquired Baron LRMS Limited ('
Baron'), a UK-based company that builds, develops and provides support software
for the leisure, spa and golf resorts sector around the world. The
consideration is for a maximum of £600,000 in cash, payable in two tranches over
eighteen months.
Baron, which was founded 20 years ago, has a long-standing and high quality
customer base. Baron's systems are installed in over 120 of the world's most
prestigious clubs and resorts. Contracted customers include Hilton Group, De
Vere Hotels, Jumeira Group, Inmogolf S.A / La Manga Club, The Roehampton Club,
Gleneagles Hotel PLC, The Royal Automobile Club, St Andrews Links Trust and the
Sheraton Hotel Group. Baron's products provide membership management and
specialist bookings control in the various markets in which they operate.
Baron's software supports approximately 500,000 membership accounts and
processes approximately 750,000 rounds of golf per annum.
The acquisition is another step in Clarity's strategy to build a portfolio of
complementary software solutions and products for the entertainment, leisure and
hospitality sector, particularly for customers with operations in many sites.
This acquisition is an important step, as it not only brings to Clarity a
blue-chip portfolio of clients, but also will enable Clarity to cross sell its
enlarged range of products.
In its unaudited management accounts for the year ended 31 August 2004, Baron
reported turnover of £0.9 million and net liabilities of £0.1 million.
One of the vendors of Baron is a company owned by a trust, which was settled by
ALR Morton, the Chairman of Clarity. The Company has received legal advice that
the acquisition of Baron is not a related party transaction as defined by the
Aim Rules.
Graham York, Clarity Chief Executive, commented:
'This acquisition represents another significant milestone for Clarity. The
Baron software portfolio will enhance the Group's suite of products, carrying us
into new market sectors, which are very well aligned with our existing range of
products. In addition, the worldwide customer base of Baron adds to our growing
international presence.'
Michael Barrett, Managing Director of Baron, said:
'Clarity provides us with the ideal vehicle for growth, enabling Baron to
deliver solutions to a potentially far broader customer base. Our existing
clients will benefit from the complimentary products and services provided by
the enlarged group.'
1 November 2004
Enquiries:
Clarity Commerce Solutions
Graham York, Chief Executive Officer Tel: 01722 746 200
College Hill
Adrian Duffield/Clare Warren Tel: 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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