K3 acquires IBS contract ERP assets from Maxima
Manufacturing ERP software firm K3 has made another acquisition – this time of £1.4 million worth of assets from the IBS (Integrated Business Systems) division of Maxima Holdings.
IBS specialises in large contract manufacturing software solutions, with a blue-chip customer base including Dunlop Oil & Marine, Rockwell Automation and Thales Group.
For the year ended 31 May 2011, IBS achieved an operating profit of £0.62 million on sales of £1.37 million, with more than 70% of revenues recurring from maintenance and support income.
"[IBS] is a highly complementary fit for our existing manufacturing software division and, in line with our strategy, it brings a prestigious user base where we see strong cross-selling opportunities for additional services and upgrades," comments K3 CEO Andy Makeham.