Kewill Systems buys Interchain for initial net 6.8 mln stg
Kewill Systems PLC said it has acquired Interchain Holding BV, a privately-owned, Netherlands-based provider of supply chain management software to the European market, for an initial net 6.8 mln stg cash.
Interchain’s system offering is called Chainware which is designed for large scale, multi-national Logistics Services Providers (LSP) operating in an international environment. Its customers include Fedex, TNT, UPS, Frans Maas and DHL.
Kewill said it will pay an additional up to 2.4 mln stg depending on revenues in the two years following completion.
In its latest financial year ended Dec 31 2004, Interchain made profit before tax of 380,000 stg and had gross assets of 3.4 mln at that date.
Kewill said it expects the purchase to enhance earnings in the year to March 31 2006.
