K3 Business Technology Group PLC Strategic Acquisition of IP
27 Janeiro 2022 - 9:49AM
RNS Non-Regulatory
TIDMKBT
K3 Business Technology Group PLC
27 January 2022
27 January 2022
AIM: KBT
K3 BUSINESS TECHNOLOGY GROUP PLC
("K3" or "the Company" or "the Group")
Strategic Acquisition of IP
K3, which provides business--critical software solutions, with a
focus on fashion and apparel brands, is pleased to announce the
acquisition of ViJi Sas ("ViJi"), an innovative software developer,
with an exciting suite of products in Sustainability. The
acquisition is strategically significant, and highly complementary
to K3's refocused growth strategy and international customer
base.
The addition of ViJi complements K3's existing Sustainability
offering. It also aligns extremely well with the Company's
ambitions in its core target markets of fashion and apparel brands,
where the traceability, transparency and certification of supply
chains are increasingly important priorities, partly driven by
emerging legislation.
Based in south-west France, ViJi has developed fully scalable
software solutions that support the sustainability objectives and
strategies of fashion retailers. Its products enable brands to
trace and authenticate more easily and reliably the environmental
and social credentials of their supply chains. This includes the
collection, verification and renewal of supplier certifications.
The software also has a consumer-facing component, enabling the
digital communication of information on the ethical history of
items, including materials, manufacturing processes and
sustainability.
ViJi's co-founders, Josselin Vogel and Anne-Laurence
Villemonteil, and team will join K3 upon completion of the
acquisition.
The acquisition has been agreed for an initial cash
consideration of 0.35m EUR in the first year, with further cash
consideration, capped at 0.7m EUR, due over the next two years,
dependent on the attainment of annual recurring revenue performance
targets.
Marco Vergani, CEO of K3 Business Technology Group plc,
commented:
"We are delighted to be acquiring ViJi. It has developed a
highly innovative suite of products that address one of the most
pressing needs for our customers, the traceability, transparency
and sustainability of their supply chains.
"The fashion and apparel sector in particular is highly
motivated to ensure its goods are produced in an
environmentally-sustainable and socially-responsible way. Consumers
are also demanding greater transparency, and are increasingly
favouring brands that prioritise sustainability. These trends are
being accelerated by legislation supporting carbon reduction and
increased transparency of supply chains.
"ViJi is highly complementary, adding strategically important
intellectual property and domain knowledge as we focus on the
high-growth fashion and apparel sector and help to transform retail
for good. We are very pleased to welcome the ViJi team to K3."
Josselin Vogel and Anne-Laurence Villemonteil, Co-founders of
ViJi, commented:
"There is a large and underserved market for our truly
innovative solutions. The fashion and apparel industry - which is
our specialisation - lack effective software, and we are excited to
be joining K3 with its well-established reputation in this sector
and relevant international client base. Our products are an
excellent fit and will accelerate K3's ambitions in
Sustainability."
Enquiries:
K3 Business Technology Marco Vergani, CEO T: 0161 876
Group plc Rob Price, CFO 4498
finnCap Limited (NOMAD Julian Blunt/ James Thompson T: 020 7220
& Broker) (Corporate Finance) 0500
Richard Chambers / Sunila
de Silva (Corporate Broking)
KTZ Communications Katie Tzouliadis/ Dan Mahoney T: 020 3178
6378
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January 27, 2022 07:49 ET (12:49 GMT)
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