- K3 Business Technology Group has acquired Merac Limited for an initial consideration of £1.27 million, payable in cash.

A further consideration of up to £175,000 is due in 2017, dependent on performance.

The acquisition has been agreed on a debt free/cash free basis and is expected to be immediately earnings enhancing. Established in 2001, Merac is the author of an electronic point-of-sale and management system for the visitor attractions and leisure sector. Its solution, 'MStore', covers ticketing, hospitality and retail, as well as admission control, bookings, membership management, marketing, stock control, purchasing, customer relationship management and event management. In the financial year ended 31 March 2016, the company generated revenue of £1.24m and an adjusted* profit before tax of £0.33m.

Its net assets at that date were £0.3m.

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