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: 96.00
Bid: 95.00
Ask: 97.00
Change: 0.50 (0.52%)
Spread: 2.00 (2.105%)
Open: 95.50
High: 96.00
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

25 Jul 2011 07:00

RNS Number : 9426K
K3 Business Technology Group PLC
25 July 2011
 



AIM: KBT

25 July 2011

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group")

 

Acquisition

 

K3, which supplies enterprise resource planning ("ERP") software, hosting and managed services to the supply chain industry, is pleased to announce the acquisition of FD Systems Ltd ("FDS"), the Sage and e-commerce provider. The consideration for the acquisition is £2.23 million payable in cash on completion, together with repayment of FDS loans of £0.41 million. Further cash consideration of £0.4 million will be payable following completion dependent on certain conditions being met. An earn-out of up to £1m in cash may also be payable after 12 months, based on specific performance criteria. The acquisition follows K3's purchase of FDS' Sage 200 business unit in December 2010.

 

Following the acquisition, the business is expected to contribute an underlying profit of c.£750,000 on revenues of approximately £7.0m on an annualised basis. Some 41% of annual revenues are contracted recurring revenues.

 

Based in Cardiff, FDS delivers Sage and e-commerce solutions to over 300 customers in the UK and Ireland, including United Utilities Group PLC, the major UK water supplier, Ideal Shopping Direct Plc, the television shopping group, and Chubb, the security and fire safety solutions provider. In addition to providing K3 with additional skills across the full range of Sage products, FDS has developed its own e-commerce solution, Gravit-e, which integrates fully with Sage and Microsoft products. Gravit-e provides websites and web services to customers including the University of Oxford and Ladders Online, the UK's leading online access equipment retailer.

 

Following the acquisition, FDS will be integrated into K3's existing Sage division, making K3 one of the largest Sage partners in the UK with over 750 customers.

 

Andy Makeham, CEO of K3, commented,

 

"I am delighted to have completed the acquisition of FDS. The combination of its Sage expertise and e-commerce solution offers an attractive extension to our current Sage product range.

 

The deal also represents further progress in our strategy to acquire customer bases with strong recurring revenues, bringing over 300 customers where we see excellent opportunities to sell additional software services and solutions, including hosting."

 

Enquiries:

 

K3 Business Technology Group

Andy Makeham (CEO)

David Bolton (CFO)

T: 0161 876 4498

Biddicks

Katie Tzouliadis/ Sophie Lane

T: 020 3178 6378

Canaccord Genuity

Simon Bridges / Cameron Duncan

T: 020 7050 6500

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQRTMRTMBTTBFB
Date   Source Headline
17th Sep 20137:00 amRNSFinal Results
2nd Sep 20131:36 pmRNSSIP Announcement
2nd Aug 20131:00 pmRNSSIP Announcement
2nd Aug 20137:00 amRNSNew Order for Gemstone AX Product
11th Jul 20137:00 amRNSAppointment of Non-executive Director
8th Jul 20137:00 amRNSNew Contract Win
2nd Jul 201310:17 amRNSSIP Announcement
25th Jun 20137:00 amRNSTrading Update
3rd Jun 20133:48 pmRNSSIP Announcement
1st May 20134:37 pmRNSSIP Announcement
9th Apr 201312:40 pmRNSHolding(s) in Company
22nd Mar 20131:14 pmRNSHolding(s) in Company
19th Mar 20137:00 amRNSPlacing
12th Mar 20137:00 amRNSHalf Yearly Report
30th Jan 20136:04 pmRNSHolding(s) in Company
18th Jan 20137:00 amRNSTrading Update
20th Dec 201211:07 amRNSExercise of Options
5th Dec 20122:04 pmRNSResult of AGM
5th Dec 20127:00 amRNSAGM Statement
1st Nov 20129:36 amRNSDirectors' Shareholdings
24th Oct 20127:00 amRNSExercise of Options
10th Oct 20121:20 pmRNSAnnual Report and Accounts
1st Oct 20124:00 pmRNSSIP Announcement
19th Sep 20125:14 pmRNSDirector/PDMR Shareholding
18th Sep 201211:52 amRNSFinal Results - Replacement
18th Sep 20127:00 amRNSFinal Results
18th Sep 20127:00 amRNSEnd of Formal Sale Process
17th Sep 20123:26 pmBUSForm 8.3 - K3 Business Technology Group Plc - Amendment
17th Sep 201212:46 pmBUSForm 8.3 - K3 Business Technology Group Plc
3rd Sep 20124:18 pmRNSSIP Announcement
3rd Sep 20124:13 pmRNSForm 8 (DD) - N A Makeham
3rd Sep 20124:12 pmRNSForm 8 (DD) - D J Bolton
3rd Sep 201210:53 amBUSForm 8.3 - K3 Business Technology Group Plc
31st Aug 20123:14 pmRNSForm 8.3 - K3 Buisness Technology Group PLC
21st Aug 20123:17 pmRNSForm 8.3 - K3 Buisness Technology Group PLC
16th Aug 20128:00 amRNSDirector Declaration
13th Aug 20127:00 amRNSForm 8.3 - K3 Bus Tech Grp PLC
8th Aug 20124:41 pmRNSExercise of Options
8th Aug 20122:01 pmBUSForm 8.3 - K3 Business Technology
3rd Aug 20121:46 pmRNSForm 8.3 - K3 Business Technology Group PLC
2nd Aug 20122:09 pmRNSForm 8.3 - K3 Buisness Technology Group PLC
1st Aug 20124:00 pmRNSForm 8 (DD) - D J Bolton
1st Aug 20123:42 pmRNSForm 8 (DD) - [K3 Business Technology Group Plc]
1st Aug 20123:40 pmRNSSIP Announcement
1st Aug 20123:23 pmRNSForm 8.3 - K3 Business Technology Group PLC
1st Aug 20122:16 pmRNSForm 8.3 - [K3 Business Technology Group]
31st Jul 201211:42 amRNSForm 8.3 - K3 Business Technology Group Plc
31st Jul 20127:00 amRNSUpdate on Formal Sale Process
30th Jul 20122:36 pmRNSForm 8.3 - K3 Buisness Technology Group PLC
27th Jul 20123:23 pmRNSForm 8.3 - K3 Buisness Technology Group PLC

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.