Sanderson Acquires UK Supply Chain Software Solutions Provider Anisa

LONDON (Alliance News) - Sanderson Group PLC said Friday it has acquired unlisted supply chain ...

Alliance News 24 November, 2017 | 9:32AM
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LONDON (Alliance News) - Sanderson Group PLC said Friday it has acquired unlisted supply chain and enterprise resource planning solutions provider Anisa Consolidated Holdings Ltd for an enterprise value of GBP12.0 million.

Shares in Sanderson were trading 8.7% higher at 69.00 pence in early trade.

The company, which develops digital retail software products, said UK-based Anisa will complement its Enterprise division and the merged business is expected to provide and develop incremental and synergistic market opportunities.

The deal consideration comprises an initial payment of GBP3.39 million, made up of GBP2.06 million in cash and issue of 1.9 million new Sanderson shares at 70 pence. The cash element of the initial consideration is being financed from existing Sanderson cash resources.

Under the deal, further consideration of GBP1.82 million is payable to Anisa share option holders and a further GBP1.63 million deferred consideration.

Sanderson is also taking over Anisa's utilised five-year repayable term debt facility of GBP4.12 million and positive cash balance of over GBP1 million. Furthermore, loan notes with a coupon of 5% to the value of GBP1.05 million will be repaid by October 2018.

For the year ended December 31, 2016, Anisa recorded revenue of GBP10.04 million, and operating profit of GBP380,000. Pretax profit totalled GBP73,000.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Sanderson Group PLC 85.00 GBX -2.86 -
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