Aptean to acquire Sanderson
US solutions business Aptean has announced that it is to acquire Sanderson in which Aptean Bidco will take the entire issued and to be issued ordinary share capital of Sanderson for a consideration of £90 million.
Chairman of Sanderson, Christopher Winn said: "The Board of Sanderson is unanimously recommending this offer to shareholders, viewing it as an endorsement of the Board's strategy and achievement of its execution to date. Considerable shareholder value has been delivered by a progressive dividend policy over the years and this offer enables shareholders to realise the rewards for their patience, support and investment over the past few years."
TVN Reddy, CEO Aptean, commented: "The acquisition of Sanderson is a significant development for our business, it provides us with a critical entry-point into the UK market, building upon our leading mission in the US market and granting an opportunity of becoming the leading global provider of mission critical ERP and supply chain management software to the manufacturing, distribution and other focused industries."