K3 Business Technology Group (LON:KBT) is acquiring DdD, a Danish point-of-sale (PoS) solution provider, for up to €10m/£7.9m. The company is raising £12.8m (net) from the issue of 4.1m shares to fund the deal and future product development. The acquisition adds proprietary retail software and should be complementary to K3’s existing retail software solutions. The deal also expands K3’s presence in Northern Europe and offers cross-selling potential.
DdD: Plug-and-play PoS solution provider
K3 has agreed to acquire DdD, a Danish provider of a plug-and-play PoS solution. DdD has an established customer base across Denmark, Sweden, Norway and Germany, with more than 50% recurring revenues. DdD generated revenues of €6.2m, EBITDA of €1.1m (17% margin) and EBIT of €0.9m (14% margin) in CY15. Based on proprietary software, delivered in the cloud and billed on a subscription basis, the business ticks several boxes for K3.
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