K3 Technology says ‘oui’ to strategic acquisition
Salford software group K3 Business Technology has bought French company ViJi Sas, in a deal worth approximately £875,000.
K3 provides business‐critical software solutions, with a focus on fashion and apparel brands. ViJi, situated in south west France, is an innovative software developer with an exciting suite of products in sustainability.
ViJi complements K3’s existing sustainability offering and also aligns extremely well with the company’s ambitions in its core target markets of fashion and apparel brands, where the traceability, transparency and certification of supply chains are increasingly important priorities, partly driven by emerging legislation.
ViJi’s products enable brands to trace and authenticate more easily and reliably the environmental and social credentials of their supply chains.
This includes the collection, verification and renewal of supplier certifications. The software also has a consumer-facing component, enabling the digital communication of information on the ethical history of items, including materials, manufacturing processes and sustainability.
ViJi’s co-founders, Josselin Vogel and Anne-Laurence Villemonteil, and team will join K3 on completion of the acquisition, which has been agreed for an initial cash consideration of £292,000 in the first year, with further cash consideration, capped at £583,000, due over the next two years, dependent on the attainment of annual recurring revenue performance targets.
Marco Vergani, CEO of K3 Business Technology Group, said: “ViJi has developed a highly innovative suite of products that address one of the most pressing needs for our customers, the traceability, transparency and sustainability of their supply chains.
“The fashion and apparel sector, in particular, is highly motivated to ensure its goods are produced in an environmentally-sustainable and socially-responsible way. Consumers are also demanding greater transparency, and are increasingly favouring brands that prioritise sustainability. These trends are being accelerated by legislation supporting carbon reduction and increased transparency of supply chains.”
He added: “ViJi is highly complementary, adding strategically important intellectual property and domain knowledge as we focus on the high growth fashion and apparel sector and help to transform retail for good. We are very pleased to welcome the ViJi team to K3.”
Josselin Vogel and Anne-Laurence Villemonteil said: “There is a large and underserved market for our truly innovative solutions.
“The fashion and apparel industry – which is our specialisation – lack effective software, and we are excited to be joining K3 with its well-established reputation in this sector and relevant international client base. Our products are an excellent fit and will accelerate K3’s ambitions in sustainability.”