Accel-KKR-backed Kerridge Commercial to buy MAM Software Group
Summary
PRESS RELEASE BLUE BELL, Pa. and HUNGERFORD, England, Sept. 3, 2019 /PRNewswire/ — MAM Software Group, Inc. (NASDAQ Capital Market: MAMS) (“MAM Software” or “MAM”), a leading global provider of on-premise and cloud-based business management solutions for the automotive parts, tire and vertical distribution industries, today announced that it has entered into a definitive agreement under which it will be acquired by Kerridge Commercial Systems (KCS), which provides software, services and support to deliver fully integrated trading and business management solutions to trade, wholesale, manufacturing and distribution customers across the world, in an all-cash transaction valued at approximately $154.2 million. “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. “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. Wholesale, retail and installer business across North America, the U.K. and Ireland rely on MAM solutions, backed by dedicated teams of experienced service and support professionals. Our mission is simple: to design and deliver high performance, integrated ERP solutions that enable our distributive trade customers to source effectively, stock efficiently, sell profitably and service competitively.