AIM-listed software firm K3 Business Tech has acquired Retail Systems Group (RSG) for £1.28m, a provider of Microsoft Dynamics 'Retail Management System' to retailers in the UK and Ireland.
K3 said that this deal gives it access to the "significant market for smaller retailers." RSG has around 200 customers, including Aston Martin, Highgrove House and National Portrait Gallery.
An additional £1.5m will be paid in respect of surplus cash in RSG, while an earn-out of up to £0.2m is payable over the next two years dependent on certain performance criteria.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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," said K3 Chief Executive Andy Makeham.
-
End-of-tax-year money tipsThe tax year will end on 5 April, and your annual allowances for 2024/25 will disappear with it. Here’s how to get your finances in shape
-
India's stock market decline wipes out $1.3 trillion in market valueMore than $1 trillion has been wiped off from India's stock market after investors turn to China. Has the emerging-market darling hit rock bottom?
