Sanderson Group PLC
12 February 2007
For Immediate Release 12 February 2007
Sanderson Group plc
Acquisition
Sanderson Group plc ('Sanderson' or the 'Group'), the provider of software and
IT services to UK commercial markets has agreed to purchase the trade and IPR of
the Elucid business unit from K3 Business Technology Group plc, for
consideration of £1.362m in cash of which £250,000 will be deferred until 30
April 2007.
The Elucid business unit develops and markets software for use in multi-channel
markets, and in the year to 31 December 2006 generated an unaudited adjusted
operating profit of around £200,000 on unaudited turnover of approximately £2m.
At 31 December 2006, the Elucid business had no material assets.
The business is expected to be earnings neutral in the current financial year,
and earnings enhancing in the first full year of ownership.
Christopher Winn, Chairman of Sanderson Group plc commented:
'This acquisition complements our existing multi-channel businesses and will
form an integral part of our ongoing development in this market area'.
-ends-
Enquiries:
Christopher Winn, Executive Chairman
Sanderson Group plc Tel: 02476 555466
Paul Vann
Winningtons Financial Tel: 0117 9200092 or 07768 807631
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