Kerridge Commercial Systems is to acquire MAM Software
MAM Software Group, Inc. has announced that it has entered into a definitive agreement under which it will be acquired by Kerridge Commercial Systems (KCS) in an “all-cash transaction valued at approximately $154.2 million”.
Following an extensive review of strategic alternatives and a thorough process, MAM’s Board of Directors have unanimously approved the proposed transaction. Mike Jamieson, MAM Software CEO, said: “This all-cash transaction 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.”
Ian Bendelow, CEO of Kerridge Commercial Systems, said: “We have long believed that a partnership between MAM Software and KCS would create a range of significant strategic opportunities. 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. We look forward to joining with the MAM team as we invest further in the business to accelerate MAM Software’s growth and bring greater value to its customer base.”
The transaction, which is expected to close in or prior to the fourth quarter of 2019, is subject to certain customary closing conditions. A copy of the definitive agreement will be made available at MAM’s website at www.mamsoftware.com
The move follows the deal last year for Kerridge Commercial Systems to acquire EDP. EDP was subsequently incorporated into the KCS brand, with its Vecta sales analytics and CRM software remaining as a standalone product.