4 July 2011 – acquisition

Software group K3 has acquired the retail merchandising division of Azurri Computer Solutions for £1m, with up to another £0.5m payable over the next two years depending on the gross margin generated by the acquired business.  Azurri’s customer base includes Matalan, JJB Sports and the National Trust and the acquisition is highly complementary to K3’s existing retail software operations.  The shares remain a BUY.