K3 Business Technology to de-list from AIM following CEO exit
Deal News | Jul 02, 2025 | Business Cloud
K3 Business Technology Group, headquartered in Manchester, UK, has announced plans to de-list from the AIM market of the London Stock Exchange. The firm specializes in bespoke software solutions for the fashion and retail sectors and operates globally. K3 intends to return £29 million to its shareholders after selling its subsidiary, NexSys Solutions, to ERP provider SYSPRO for £36 million in cash. The company is choosing not to appoint a successor after CEO Eric Dodd's retirement at the end of September 2024, and has stated that the heads of its business units will report directly to the board. Financially, K3 experienced a decline in revenue from continuing operations to £23.2 million for the year ending November 2024, down from £31.3 million the previous year, while adjusted operating losses improved, narrowing to £1.1 million from £1.4 million previously.
Sectors
- Technology
- Fashion and Retail
- Software & IT Services
Geography
- United Kingdom – K3 Business Technology Group is headquartered in Manchester, UK, and is listed on the London Stock Exchange.
Industry
- Technology – K3 Business Technology Group belongs to the technology sector, offering software solutions for fashion and retail.
- Fashion and Retail – K3 provides software solutions designed specifically for the fashion and retail industries.
- Software & IT Services – The company deals in tailored software solutions, positioning it within Software & IT Services.
Financials
- £29 million – Amount to be returned to shareholders following the sale of NexSys Solutions.
- £36 million – Sale price of NexSys Solutions to SYSPRO.
- £23.2 million – Revenue from continuing operations for the year ending November 2024.
- £31.3 million – Revenue from continuing operations for the previous year.
- £1.1 million – Adjusted operating losses for the year ending November 2024.
- £1.4 million – Adjusted operating losses for the previous year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| K3 Business Technology Group | Target | Company | A Manchester-based firm providing specialized software solutions for the fashion and retail industries. |
| SYSPRO | Bidding Company | Company | A global ERP software provider acquiring NexSys Solutions from K3. |
| Eric Dodd | CEO | Person | Joined K3 as CFO in April 2023 and became CEO later that year. Retiring by end of September 2024. |
| NexSys Solutions | Selling Company | Company | A subsidiary of K3 sold to SYSPRO for £36 million. |