Tue, 08 Oct 2013 | BUSINESS SALE
Software firm Sanderson has purchased its rival One iota in a deal worth up to £5.43 million, with Yorkshire law firm Schofield Sweeney acting as Sanderson’s adviser.
Sanderson has also placed over 6 million new shares in a bid to generate £3.5 million.
One iota is a cloud-based, ecommerce business focusing on mobile, tablet and in-store devices, based in Rossendale, Lancashire. It had unaudited revenues of £600,000 and profit before tax of £200,000 for the seven months to 31 August 2013.
Sanderson made the purchase through its subsidiary Sanderson Multi-Channel Solutions. The company also bought Rugby ecommerce business Catan Marketing in August for £600,000.
Christopher Winn, Sanderson’s chairman, commented on the deal: “We are delighted to welcome the One iota team, led by Damian Hanson and David Hague into the Sanderson Group.
“Following the acquisition of Catan Marketing Limited in August 2013, the One iota acquisition further strengthens the company position in the rapidly expanding mobile enabled ecommerce and online sales markets.”
One iota, which has installed SmartPods into some of its retailer customers’ stores, has seen its workforce increase by 30 per cent in 12 months to 30 staff. Co-founder Damian Hanson told Manchester Evening News in September that it would “comfortably” push through the £1 million sales barrier this year.
____________________________________________________________________________
Related information:
Technology businesses for sale
Tips on acquisition strategies
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.