It’s still ‘business as usual’ for mid-market ERP firm, K3 Business Technology Group, despite the mooted NEDBO (non-exec director buy-out!) bid by top shareholder PJ Claesson (see Claesson looks to K3 for hosting panacea). K3 has acquired certain assets of Netherlands-based retail store solutions firm, Unisoft, paying up to €2.8m cash though with just €0.5m up front. Unisoft turns over around €4.3m and the deal is expected to add some €0.4m to K3’s operating profit. Unisoft’s current ERP partner is Netherlands-based PFA (ProFashionAll) Group, which begs the question whether any further moves on K3’s part might be on the cards.
I had a good chat with K3 CEO, Andy Makeham, after Claesson’s intentions were announced. The economic downturn has scared away investors in the retail sector and those whose fortunes hang off it, leaving K3, as Makeham aptly put it, “a very small boat bobbing about in a very stormy sea”. If Claesson can find the ‘right’ price, I can certainly understand the attraction for K3 to continue business out of the glare of the public eye during these troubles times – and of course pocketing the c.£250k p.a. that it costs to maintain a listing on AIM!