17 May 2017 07:00
17 May 2017
ATTRAQT Group plc
("ATTRAQT", the "Group" or the "Company")
INTEGRATION UPDATE
AND
APPOINTMENT OF VICE PRESIDENT OF SALES IN NORTH AMERICA
ATTRAQT Group plc (AIM: ATQT), a leading provider of onsite search, online merchandising and eCommerce personalisation technology, is pleased to provide an update on integration following its acquisition of Fredhopper BV ("Fredhopper") (the "Acquisition"), which was completed on 8 March 2017.
The Acquisition has been transformational both in terms of the scale and scope of the enlarged Group and, following the successful completion of the comprehensive reorganisation, the Company is now fully aligned under the single ATTRAQT Group plc brand, offering its customers two products, namely Fredhopper and Freestyle Merchandising.
A new executive team, formed of senior staff from the ATTRAQT and Fredhopper businesses, is leading the enlarged Group. The single on-boarding and software development team have already been working collaboratively while a newly combined product development team has also been created to drive ATTRAQT's future product offering. In addition, the Group has formed one integrated sales and account management team.
The integration process has also confirmed the potential for significant cost savings through better management and forward planning of the hosting infrastructure, as anticipated at the time of the Acquisition. A cost reduction plan has been put in place, with plans for cost optimisation through platform efficiency improvements already under way. The full benefits of the plan are still to be fully quantifed and further detail will be communicated to the market when appropriate.
The Company has appointed a new Vice President of Sales in North America, Bruce Gilburne, reinforcing the Group's commitment to international growth across the key markets of North America, ANZ and Europe.
André Brown, CEO of ATTRAQT Group plc, commented:
"I am delighted with the integration progress we have made to date and that we are already seeing the significant potential of the combined Group. A key focus for us throughout the process has been our clients, each of whom has been provided with a Q&A on the acquisition outlining how our combined capabilities will benefits their business.
"The additional appointment of Bruce Gilburne in North America further cements our plans for international expansion, and illustrates why we are, and will continue to be, the go-to player in all our target markets."
For further information, please contact:
ATTRAQT Group plc | via Newgate |
André Brown, CEO | |
Mark Johnson, CFO Gemma Owen-Smith, Head of Marketing and Communications | |
N+1 Singer | Tel: 020 7496 3000 |
Shaun Dobson, Lauren Kettle | |
Newgate | Tel: 020 7680 6550 |
Adam Lloyd, Charlotte Coulson, Sophie O'Donoghue | |
About ATTRAQT Group plc
ATTRAQT Group plc specialises in onsite search, online merchandising and eCommerce personalisation with two product offerings: Freestyle Merchandising and Fredhopper. The Group has grown its customer base to over 250 clients, including Tesco Clothing (part of Tesco Plc (LSE: TSCO)), boohoo.com (LSE: BOO), Superdry (LSE: SGP) and ASOS (LSE: ASC). The Group has market presence in the UK, US, Europe and ANZ. For more information please visit: http://attraqt.com