E-commerce firm One iota bought in £5.4m deal
LANCASHIRE e-commerce specialist One iota has been bought by a Midlands rival for up to £5.4m.
The Rossendale-based business, founded by Damian Hanson and David Hague, has been acquired by Coventry-based software and IT services group Sanderson.
One iota specialises in cloud-based, multi-channel services for mobile, tablet and in-store devices. It works with retailers such as Footasylum, Republic, Mamas & Papas, Universal, Jaeger and SuperDry.
In the year to January 2013, One iota had unaudited turnover of £660,000 and profit before tax of £195,000. At 31 January 2013, its net assets were £850,000. For the seven months to August 31 it had unaudited turnover of £610,000 and profit before tax of £210,000.
Sanderson chairman Christopher Winn said: “We are delighted to welcome the One iota team, led by Damian Hanson and David Hague into the Sanderson Group. Following the acquisition of Catan Marketing Limited in August 2013, the One iota acquisition further strengthens the company’s position in the rapidly expanding mobile enabled e-commerce and online sales markets.”
