K3 Acquires Microsoft Dynamics NAV Consultancy Clarita Solutions
UK-based ERP and supply chain software provider K3 announced that it has acquired Clarita Solutions Ltd, a provider of Microsoft Dynamics NAV solutions to the retail and distribution markets for £0.82 million is cash. K3 said it is also assuming certain financial obligations up to £230,000.
After the acquisition, K3 said it will rapidly integrate Clarita, which is already an established distributor of K3's Pebblestone fashion distribution software solution, into its existing operations.
For the year ending December 31, 2010, Clarita had sales of £3.1 million and an operating profit of £0.25 million. Approximately one third of revenues are recurring and the business has approximately 70 customers, according to K3.