K3 Business Technology Group PLC has announced the sale of its subsidiary NexSys to Syspro for £36 million ($46 million). The U.K.-based business software group revealed Monday that the deal, pending shareholder approval, is expected to close on or around Jan. 8, 2025, marking a significant step in its strategic plan to expand operations in the U.K. and Europe.
The transaction, which does not require regulatory approval, will be presented for shareholder voting at a general meeting on Dec. 19, where K3’s directors will unanimously recommend approval.
Syspro Sees Strategic Fit in NexSys Acquisition
Syspro, supported by U.S. private equity firm Advent International Corp., is acquiring NexSys as part of a broader strategy to strengthen its foothold in the U.K. and enhance its digital manufacturing offerings across Europe.
Jaco Maritz, Syspro’s CEO, emphasized the long-standing partnership between the two companies, which spans over 40 years. In a regulatory statement to the London Stock Exchange, he described NexSys as a “compelling strategic fit” that aligns with Syspro’s vision of growth and innovation.
