25 May 2012

K3 unveils £1.4m acquisition

15/12/2011 Miles Nolan

Fast expanding software services firm K3 Business Technology (KBT) has announced the £1.4 million acquisition of a chunk of AIM rival Maxima.

K3 is buying certain assets of Maxima's Integrated Business Systems arm, which is a leading Enterprise Resource Planning system aimed at large manufacturers. It has a solid client base, boasting names such as Dunlop Oil & Marine, Thales and Rockwell Automation.

In the year to May the business achieved sales of £1.37 million and an operating profit of £620,000. The fit is described as 'excellent' and it will slot quickly into its existing manufacturing software division. Moreover, it brings revenues which are significantly recurring - in excess of 70 per cent.

Earlier this month K3 acquired Unisoft BV, a leading provider of retail Point of Sale solutions in Holland and Scandinavia. It has a raft of 350 customers including: Dixons, O'Neill, T-Mobile and Pepe Jeans. K3 paid €1 million, with a further €270,000 payable depending on future performance.

K3 is still in bid discussions with shareholder and non-executive director Johan Claesson, but has also signed up Deloitte Corporate Finance to consider other offers. The shares are unchanged this morning at 164p.

Tags: Acquisitions, AIM market, Andy Makeham, Growth company, Microsoft

Sector: Software & Computer Services

Companies: K3 Business Technology

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