K3 Business Technology Group PLC
12 February 2007
KBT.L
K3 BUSINESS TECHNOLOGY GROUP PLC
('K3' or 'the Company')
Disposal
K3, the IT solutions provider, is pleased to announce that it has agreed the
sale of its Elucid Business Unit to Sanderson Group plc, the software and IT
services business, for £1.362m to be satisfied in cash. £1.112m will be paid
on completion and £250,000 will be deferred until the end of April 2007.
The Elucid Business Unit has become a non-core activity as the Group has
progressively focused its retail software offering on mid-tier retailers. The
proceeds will be used to strengthen the balance sheet.
Andy Makeham, Chief Executive of K3 commented,
'K3's focus today is Microsoft based mid-range retail and manufacturing
solutions, and whilst Elucid has grown significantly in the last two years, it
is no longer core to the future of our business. Elucid will be an excellent
addition to the Sanderson product portfolio for the multi-channel marketplace.'
For further information:
K3 Business Technology Group plc T: 01282 864 111
Andy Makeham, Chief Executive T: 01282 864 111
David Bolton, Chief Finance Officer
Biddicks T: 020 7448 1000
Katie Tzouliadis
This information is provided by RNS
The company news service from the London Stock Exchange
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