SND.L Share News (SND)

LONDON (Alliance News) - Sanderson Group PLC said Thursday that it will acquire Gould Hall Computer Services Ltd for a maximum enterprise value of GBP3.2 million.

The retail software solutions provider said the deal will further builds on the capability of the Sanderson Enterprise division. Gould Hall provides software solutions to customers operating in the supply chain and distribution sectors. For the year to March 31, 2018, the company reported revenue of GBP3.0 million and pretax profit of GBP300,000

The deal consideration comprises an initial GBP1.85 million, made up of GBP1.27 million in cash and by the issue of 500,000 ordinary shares. Deferred consideration, totalling GBP2.15 million, is payable in cash upon certain performance criteria having been met.

"We are delighted to welcome the Gould Hall directors and team to Sanderson and we are excited by the opportunities that will arise from this complementary acquisition which further strengthens the range of group solutions and services available to customers within the supply chain logistics and distribution sectors," Sanderson Chief Executive Ian Newcombe said.

Shares in Sanderson were trading 8.6% higher at 116.77 pence each.