StockMarketWire.com - Software and cloud solutions company K3 Business Technology said it had sold the business and assets of its non-core sage business to Pinnacle Computing for £1.68 million.

Completion of the sale was expected in early October 2021.

'The disposal is in line with the board's strategy of focusing resources on key higher-margin products and markets, and follows the sale of other non-core businesses, as previously announced, ' the company said.

'The disposal proceeds will further strengthen K3's balance sheet, and generate a profit pre-tax of approximately £1.6 million, which will be accounted for as an exceptional contribution to trading results in the current financial year ending 30 November 2021,' it added.






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