ATTRAQT Group PLC Completion of Fredhopper Acquisition (7912Y)

TIDMATQT

RNS Number : 7912Y

ATTRAQT Group PLC

08 March 2017

08 March 2017

ATTRAQT Group plc

("ATTRAQT", the "Group" or the "Company")

COMPLETION OF FREDHOPPER ACQUISITION

READMISSION AND FIRST DAY OF DEALINGS

AND

TOTAL VOTING RIGHTS

ATTRAQT Group plc (AIM: ATQT), a leading provider of onsite search, online merchandising and eCommerce personalisation technology, is pleased to announce that its acquisition of Fredhopper BV ("Fredhopper") (the "Acquisition") has been completed and that its ordinary shares will be readmitted to trading on the AIM Market of the London Stock Exchange (under the ticker ATQT) with effect from 8am.

Highlights

-- Fredhopper is a cloud-based provider of onsite search, navigation, recommendation and visual merchandising solutions through a global SaaS platform, and has a large recurring revenue base which accounted for 90% of total revenues in FY16

-- This represents a transformational opportunity which brings critical mass to ATTRAQT - the Enlarged Group has a strong presence in the UK, US and Continental Europe with approximately 250 clients

-- A firm placing (the "Firm Placing"), open offer and subscription has raised gross proceeds of GBP27.8 million by issuing 79,426,249 new ordinary shares at an issue price of 35 pence per ordinary share. The net proceeds raised have been used to fund the Acquisition, with the balance to fund the integration of the two businesses, investment into sales and marketing, customer support and on-going product development and general working capital for the Enlarged Group. The Firm Placing was arranged by N+1 Singer, acting as Nominated Adviser and Sole Broker

The Company's admission document can be found at: www.attraqt.com

André Brown, CEO of ATTRAQT Group plc, commented:

"I am delighted that the acquisition of the Fredhopper business has been completed and I look forward to growing the business together as we work to become the global online merchandising partner of choice for retailers. Going forward we will look to utilise the joint scope and experience of both companies and accelerate our global product offering and technology developments; enhancing business continuity and reinforcing our position as the go-to player in the market."

Total voting rights

Following Admission, the Company will have a total of 106,368,589 Ordinary Shares of 1p each in issue. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company. The Company does not hold any shares in treasury.

For further information, please contact:

 
ATTRAQT Group plc                                        via Newgate 
André Brown, CEO 
Mark Johnson, CFO 
 Gemma Owen-Smith, Head of Marketing and Communications 
 
N+1 Singer                                               Tel: [phone] 
Shaun Dobson, Lauren Kettle, Alex Price 
 
Newgate                                                  Tel: [phone] 
Adam Lloyd, Charlotte Coulson, Sophie O'Donoghue 
 
 

About ATTRAQT Group plc

ATTRAQT Group plc specialises in onsite search, online merchandising and eCommerce personalisation. Following ATTRAQT's acquisition of Fredhopper in 2017, the Enlarged Group has two product offerings: Freestyle Merchandising and Fredhopper and has a combined client base of around 250 clients, including Tesco Clothing (part of Tesco Plc (LSE: TSCO)), boohoo.com (LSE: BOO) and Superdry (LSE: SGP). The Enlarged Group has market presence in the UK, the US and Continental Europe. For more information please visit: http://attraqt.com/

This information is provided by RNS

The company news service from the London Stock Exchange

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March 08, 2017 02:00 ET (07:00 GMT)