Software developer Kerridge Commercial Systems (KCS) has acquired component cataloguing firm Mam Software Group. Terms of the deal are a straightforward cash acquisition, with a reported $154.2m (approx £123m) being paid for the firm.
“This all-cash transaction provides MAM Software’s stockholders with a premium over the pre-announcement market price of their shares, and we believe it will allow our team to increase our focus on long-term success that will benefit customers, employees and partners. Together with KCS, we can offer a broader portfolio of solutions to our customers globally,” said Mike Jamieson, MAM Software CEO.
“We have long believed that a partnership between MAM Software and KCS would create a range of significant strategic opportunities,” said Ian Bendelow, CEO of Kerridge Commercial Systems. “MAM has significant traction in the automotive aftermarket sector that augments our solution offering, and this combination also will expand our U.S. market presence.