Acquisition of Unisoft

RNS Number : 5654T

K3 Business Technology Group PLC

08 December 2011

 



AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group")

Acquisition of Unisoft BV

K3, which provides and supports Enterprise Resource Planning software, hosting and managed services to the supply chain industry, is pleased to announce that it has acquired certain assets of Unisoft BV ("Unisoft"), a leading provider of retail Point of Sale solutions in Holland and Scandinavia.  The acquisition is for an initial €0.5 million in cash, with further consideration of up to €1.0 million payable in cash, dependent on certain criteria.  In addition, an earn-out element is payable over the next three years, based on performance, of up to a maximum value of €1.27 million. 

Unisoft has 350 customers, predominantly in Holland, including Dixons, O'Neill, T-Mobile and Pepe Jeans.  It generates annual revenues of c.€4.3m, 45% of which are recurring, derived from maintenance income. A further 35% of revenues per annum typically are from additional sales to existing customers. Following the acquisition, Unisoft is expected to contribute an annualised operating profit of approximately €0.4m.

The Unisoft business is complementary to K3's existing successful Dutch retail operation, and will create cross selling opportunities for K3's existing retail solutions. Following the acquisition, Unisoft will be integrated into K3's Dutch operations. 

Andy Makeham, Chief Executive of K3, commented,

"Unisoft is a natural extension of our existing European retail operations and an excellent acquisition for K3.  We look forward to working together with the team to grow the business further."

Enquiries:

K3 Business Technology Group plc	Andy Makeham, Chief Executive	T: 0161 876 4498
	David Bolton, Chief Finance Officer
finnCap Limited (NOMAD)	Charlie Cunningham /Henrik Persson	T: 020 7220 0500
Biddicks	Katie Tzouliadis / Sophie McNulty	T: 020 3178 6378

 

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