Re Baugur Acquistion

25 Oct 2007 07:02

K3 Business Technology Group PLC25 October 2007 KBT.L K3 BUSINESS TECHNOLOGY GROUP PLC ("K3" or "the Group") Baugur Group acquires LS Retail, Developer of K3's Retail Software Solution Baugur Group, the international investment group which owns high streetretailers such as House of Fraser, Goldsmiths and Iceland, has recently acquiredLS Retail, the Icelandic developer of K3's Microsoft Dynamics based retailsoftware solution. K3 is the leading UK distributor of LS Retail's retail software solution, with aparticularly strong presence in key sectors such as fashion and fast movingconsumer goods. In September 2007, K3 further strengthened its position in theretail sector with the acquisition of Landsteinar Nederland, the LS Retailpartner in Holland. Andy Makeham, CEO of K3, commented, "K3 continues to grow its Retail Software Division, having recently announcedcontracts worth £2m including with the high street fashion retailer, Jigsaw. Baugur's acquisition of LS Retail represents an exciting development in theretail software market. We have developed a strong relationship with LS Retailover a number of years and we now look forward to working closely with theBaugur Group going forward." Enquiries: K3 Andy Makeham, Chief Executive T: 01282 864 111 David Bolton, Chief Finance Officer Biddicks Katie Tzouliadis/Sophie Lane T: 020 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange