Thu, 07 May 2020 | BUSINESS SALE
Sigma Dynamics has acquired the Dynamics 365 Finance and Operations trade and assets of K3 Business Technologies Limited out of administration.
Sigma Dynamics has purchased the loss-making subsidiary of Manchester-based K3 Business Technology Group for £250,000. The £3.5 million turnover business fell into administration in April due to coronavirus.
Sigma Dynamics, the London-based subsidiary of Swedish IT services firm Sigma, will take over the projects, support and managed services outfit K3 as part of its continued expansion in the UK. K3 has 31 clients across the retail, fashion and manufacturing industries and 19 employees.
Colin Crow, managing director at Sigma Dynamics UK, said: “We’re thrilled to have acquired the K3 business, as it fits directly into our existing business strategy.”
“This addition to the UK business will give our customers greater value, both to their local business, and to their global business through our presence worldwide.”
“Being part of the global Sigma group will allow our clients to gain additional support on other areas of their operations and business, from our other expert business units, helping them increase their productivity and profits in the future.”
RSM Restructuring Advisory’s Chris Ratten and Jeremy Woodside were appointed joint administrators for the business on April 21. Upon completion of the sale, Chris Ratten commented: “We are very pleased to have found a stable and solid home for the finance and operations part of the K3 Dynamics business.”
“We are confident that customers and employees will have a partner who they can work with and build a long-term relationship. Sigma’s global strength and breadth of services will add significant value to the customer base.”
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