K3 Business Technology (GB:KBT) has released an update.
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K3 Business Technology Group has agreed to sell its subsidiary, NexSys Solutions Limited, to SYSPRO for £36 million, marking a strategic move to simplify operations and enhance shareholder value. The deal, which awaits shareholder approval, is expected to lead to a significant cash return to shareholders and is seen as a positive development for both NexSys and SYSPRO’s expansion plans. The decision aligns with K3’s strategy to focus on cash generation and reduce complexity within the group.
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