Less Ads, More Data, More Tools Register for FREE

Pin to quick picksK3 Business Technology Group Regulatory News (KBT)

Share Price Information for K3 Business Technology Group (KBT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 95.50
Bid: 94.00
Ask: 97.00
Change: 0.00 (0.00%)
Spread: 3.00 (3.191%)
Open: 95.50
High: 95.50
Low: 95.50
Prev. Close: 95.50
KBT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Acquisition

20 Dec 2011 07:00

RNS Number : 2882U
K3 Business Technology Group PLC
20 December 2011
 



 

AIM: KBT

 K3 Business Technology Group plc

("K3" or "the Group")

 

Announces

Acquisition of Retail Systems Group

 

K3, which supplies and supports Enterprise Resource Planning ("ERP") software to the supply chain industry, is pleased to announce that it has completed the acquisition of Retail Systems Group Ltd ("RSG"), one of the leading providers of Microsoft Dynamics 'RMS' to retailers in the UK and Ireland. The initial consideration for the acquisition is £1.28 million payable in cash on completion, with an additional payment of approximately £1.5 million in respect of surplus cash in the business at completion. The initial consideration includes a retention of £0.15m for the period of one year following completion to cover any warranty and indemnity claims. An earn-out of up to £0.2m is also payable over the next two years, dependent on certain performance criteria.

 

The acquisition offers K3 access to the significant market for smaller retailers, complementing the Group's existing mid-range retail software offering. RSG also has a well established managed service division which will further expand K3's own growing managed services division. RSG has approximately 200 customers, including Aston Martin, Highgrove House, Triumph and the National Portrait Gallery.

 

For the year to 30 June 2011, RSG generated sales of £2 million and an operating profit of £300,000. Approximately 40% of annual revenues are recurring, derived equally from managed services and maintenance/support. A further 35% of annual revenues are typically from additional sales to existing customers.

 

 

 Andy Makeham, Chief Executive of K3, said,

 

"RSG represents another excellent acquisition for K3. We already have an established business delivering retail software solutions to mid-tier retailers and RSG will extend our reach into the substantial small retailer market.

 

In addition, it brings us strong recurring revenues, including from managed services, from a large, high quality customer base."

 

 

 

Enquiries

 

K3 Business Technology Group plc

Andy Makeham, Chief Executive

T: 0161 876 4498

David Bolton, Finance Director

finnCap Ltd

Charlie Cunningham

T:020 7220 0500

Henrik Persson

Biddicks

Katie Tzouliadis

Sophie McNulty

T: 020 3178 6378

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQTLBTTMBIBTMB
Date   Source Headline
30th Jun 20087:00 amRNSIssue of Equity
5th Jun 20083:53 pmRNSResult of AGM
5th Jun 20089:46 amRNSDirector/PDMR Shareholding
8th Apr 200812:46 pmRNSIssue of Equity
3rd Apr 20087:01 amRNSPreliminary Results
21st Jan 20087:00 amRNSTrading Statement
8th Jan 20087:00 amRNSContract Wins
2nd Jan 20083:00 pmRNSHolding(s) in Company
20th Dec 20071:52 pmRNSExercise of Option
17th Dec 20077:00 amRNSAcquisition
14th Dec 20077:00 amRNSExercise of Option
10th Dec 20077:01 amRNSNew Contract
6th Dec 20074:29 pmRNSDirector/PDMR Shareholding
23rd Nov 20074:01 pmRNSHolding(s) in Company
22nd Nov 20073:22 pmRNSDirector/PDMR Shareholding
19th Nov 20079:26 amRNSDirector/PDMR Shareholding
16th Nov 20077:01 amRNSDirector/PDMR Shareholding
6th Nov 20077:01 amRNSContract Wins
31st Oct 20076:11 pmRNSResult of EGM
25th Oct 20077:02 amRNSRe Baugur Acquistion
16th Oct 200712:30 pmRNSHolding(s) in Company
28th Sep 20072:50 pmRNSExercise of option
28th Sep 20077:02 amRNSRetail Contract Wins
17th Sep 20077:01 amRNSContract Wins
12th Sep 200712:59 pmRNSTotal Voting Rights
10th Sep 20073:25 pmRNSHolding(s) in Company
7th Sep 20077:01 amRNSInterim Results
6th Sep 20074:09 pmRNSIFRS Restatement
4th Sep 200710:45 amRNSHolding(s) in Company
3rd Sep 20077:01 amRNSAcquisition
9th Aug 20077:01 amRNSNew Contract Wins
8th Aug 20072:54 pmRNSAIM 26: Website Disclosure
30th Jul 20074:08 pmRNSExercise of Options
30th Jul 20072:38 pmRNSHolding(s) in Company
29th Jun 200711:58 amRNSIssue of Equity
21st Jun 20077:01 amRNSRe: Board
14th Jun 20073:56 pmRNSDirector/PDMR Shareholding
7th Jun 20079:19 amRNSTotal Voting Rights
1st Jun 20075:12 pmRNSDirector/PDMR Shareholding
23rd May 20074:53 pmRNSResult of AGM
16th May 20077:01 amRNSTotal Voting Rights
11th May 200712:31 pmRNSExercise of Options
3rd Apr 200711:39 amRNSTotal Voting Rights
28th Mar 20077:02 amRNSAcquisition
22nd Mar 20077:02 amRNSHolding(s) in Company
21st Mar 20077:04 amRNSNew Contract Win
12th Mar 20077:03 amRNSPreliminary Results
12th Mar 20077:02 amRNSHolding(s) in Company
9th Mar 200711:48 amRNSStatement re Possible Offer
2nd Mar 20072:36 pmRNSRule 8.1- K3

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.