K3 Business Technology Group Regulatory News (KBT)

12 Feb 2007 07:02

Sanderson Group PLC12 February 2007 For Immediate Release 12 February 2007 Sanderson Group plc Acquisition Sanderson Group plc ("Sanderson" or the "Group"), the provider of software andIT services to UK commercial markets has agreed to purchase the trade and IPR ofthe Elucid business unit from K3 Business Technology Group plc, forconsideration of £1.362m in cash of which £250,000 will be deferred until 30April 2007. The Elucid business unit develops and markets software for use in multi-channelmarkets, and in the year to 31 December 2006 generated an unaudited adjustedoperating 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 willform an integral part of our ongoing development in this market area". -ends- Enquiries: Christopher Winn, Executive ChairmanSanderson Group plc Tel: 02476 555466 Paul VannWinningtons Financial Tel: 0117 9200092 or 07768 807631 This information is provided by RNS The company news service from the London Stock Exchange