K3 picks up Azzuri retail division to widen portfolio


K3 picks up Azzuri retail division to widen portfolio

Simon Quicke

ERP software specialist K3 Business Technology Group has announced the acquisition of the retail merchandising division of Azzuri Computer Solutions for a £1m cash sum.

The move bulks out the ability that K3 has to offer a wider range of services to the supply chain industry and underlines it's strategy to expand its own portfolio of both products and skills.

The £1m cash sum could be added to to the tune of another half a million dependent on the increases in gross margin generated by Azzuri Retail over the next two years.

Last year the Azzuri operation generated sales of £1m and a profit of £0.4m with over £0.6m of recurring revenues. Customers included JJB Sports, Matalan and the National Trust.

Andy Makeham, CEO of K3, said that the acquisition was part of the strategy to widen its user base: "We continue to strengthen recurring revenues by acquiring new user bases, where we can also offer additional services and upgrades, and Azurri Retail represents an exciting opportunity to acquire a prestigious retail customer base."

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