K3 Business Technology Signs IT Pact With IKEA

LONDON (Dow Jones)--K3 Business Technology Group PLC (KBT.LN), which provides Enterprise Resource Planning solutions to the supply chain industry, Thursday announces a strengthening of its relationship with Inter IKEA System B.V, the global home furnishings business, with IKEA naming K3 as its sole outsourced provider of Retail ERP software packages for its franchisee network on a global basis. MAIN FACTS: -IKEA has decided that all its franchisees must adopt an IKEA standard IT platform. -K3's retail software operation based in Holland is already IKEA's software partner of choice for 10 of its franchisees, with K3 having developed the IKEA Master Version of Microsoft Dynamics for these countries. -The standardization of IKEA franchisees' IT platforms is expected to deliver phased revenues to K3 over the course of the next 36 months and will help to underpin the performance of K3's Retail Software Division over this time. -Shares at 0734 GMT up 1.0 pence, or 0.89%, at 113.5 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires June 10, 2010 03:36 ET (07:36 GMT)