Mergers and Acquistions News
Categories: Software
March 9th 2010, 17:12PM
Manchester-based software reseller K3 Business Technology has acquired Pebblestone Netherlands, a European provider of Microsoft Dynamics ERP solutions to the fashion industry, shortly after acquiring Edinburgh-based cloud firm DigiMIS.
K3 Business Technology has agreed to pay £1.26 million for Pebblestone Netherlands, followed by a deferred consideration of £540,000 to be paid over the next five years.
The fashion software provider has 140 customers on its books, including high street names like Levi, Just Brands and Claudia Strater.
Andy Makeham, chief executive officer of K3 Business Technology, said that Pebblestone is one of the best-known providers of fashion technology in Europe and described the software acquisition as "exciting".
"We have an increasing presence in the fashion sector both in Europe and the UK and the addition of Pebblestone will accelerate our strategic growth in this important market," he added.
In 2007, K3 Business Technology acquired UK-based manufacturing software provider Index Computer Systems for a total consideration of £2.75 million.
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