Breaking: Manchester software firm K3 enhances leisure sector presence with £1.27m acquisition

Manchester-based software firm K3 Business Technology Group has this morning (July 4) announced the acquisition of electronic point-of-sale and management system maker Merac Limited.

Completed for £1.27m with a further £175k payable in 2017, subject to performance, the deal is forecast to be immediately earnings enhancing and will expand K3’s presence in the visitor attraction and leisure sector.

Merac was established in 2001 and today has a revenue of £1.24m, with an adjusted pre-tax profit of £330k and net assets of £300k.

Its core ‘MStore’ product covers hospitality, retail and ticketing, in addition to membership management, admission control, marketing, bookings and stock control.

Merac, which is headquartered in Exeter, counts a number of visitor attractions among its clients, including Longleat Safari Park, Stonehenge, Wookey Hole Caves and Alnwick Castle.

The chief executive of K3, David Bolton, said: “We are very pleased to announce the acquisition of Merac, which has developed a leading solution for the visitor attractions and leisure sector.

“Its solution, MStore, is used by English Heritage and across many high profile visitor attractions, such as Stonehenge, Longleat Safari Park and Castle Howard.”

He added: “Its addition is entirely complementary and increases our existing presence in the sector as well as adding to our portfolio of wholly-owned IP.”

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