J2 System Technology acquired by French firm
Warrington-based J2 Systems Technology has been bought by Aures Technologies, a French company that deals in electronic tills.
The purchase, which was secured for an undisclosed sum, was advised by the technology, media and telecoms team at Clearwater Corporate Finance.
Aures, whilst it was founded in Paris, now has a base in Runcorn, Cheshire, as well as locations in France, Germany and the U.S.
Both companies specialise in touch screen electronic tills, as well as sales systems for the retail and hospitality industries.
J2 has bases in the UK, North America and Australia, and the combined group predicts a total turnover of more than €50m for this year.
Carl Houghton, partner at Clearwater, advised the acquisition along with senior tmt analyst, Emma Rodgers in Manchester and director, Dan Bowtell in the Midlands.
Mr Houghton said: “We have a long history of advising on software deals in the retail and hospitality sector such as Fourth Hospitality, Freeway Commerce, Panacea and Galleria.
“J2 was a rare move into the more challenging hardware arena but our deep research gave us the confidence that we would secure strong international buyers which was exactly the outcome.”
Founder and chief executive of the Aures group, Patrick Cathala, commented: “This acquisition will make the AURES Group a major international player in the electronic point of sale market.”
Moray Boyd, chief executive of the J2 group added: “10 years after its creation, the J2 Systems organisation is joining the AURES Group.
“The two organisations have remarkable synergies, and by integrating into one of the foremost players in the point of sale market allows J2 to accelerate its International growth ambition.”
J2 has grown to achieve revenues of £17m in 2012, after acquiring an Australian subsidiary in 2010 and a U.S. subsidiary in 2003.
This was posted in Bdaily's Members' News section by Miranda Dobson .