LONDON, January 30, 2017 /PRNewswire/ --
ATTRAQT Group plc has conditionally
agreed to acquire Fredhopper, the European onsite search,
navigation and merchandising software provider, for £25 million
(subject to certain adjustments) in cash to create the global
'go-to' e-commerce visual merchandising company.
(Logo:
http://mma.prnewswire.com/media/462540/Attraqt_Image_Logo.jpg )
(Logo:
http://mma.prnewswire.com/media/462541/Fredhopper_Logo.jpg )
(Logo:
http://mma.prnewswire.com/media/462542/SDL_Image_Logo.jpg )
Fredhopper serves approximately 130 major international retail
clients, while online visual merchandising company ATTRAQT's
portfolio includes boohoo.com, Matches Fashion, Moss Bros, Russell
and Bromley, Superdry, The North
Face and Timberland. As a combined business the new company will
have over 250 customers.
The deal, which is subject to shareholder approval, will see a
significant expansion of client bases for Fredhopper and ATTRAQT,
and will give the combined company a growing presence in the
UK, US, continental Europe and Asia
Pacific.
Headquartered in Amsterdam,
Fredhopper has additional offices in the UK and Bulgaria, with customers in all key European
e-commerce regions. ATTRAQT is headquartered in the UK and has a
regional office in Chicago. The
combined group will use its footprint in the US and Continental
Europe to further expand global operations.
"I am delighted to be announcing this transformational deal for
the company. The acquisition is a significant step and immediately
establishes the new group as the clear global leader in online
visual merchandising. As a combined business, we will bring
together the very best solutions available in the market to become
the go-to company for all visual merchandising needs," said
Andre Brown, CEO and Founder of
ATTRAQT Group plc. "This transaction has been driven by the growth
potential available to the combined business and has been backed by
a group of leading UK technology investors who share our vision and
ambitious growth plans. In the short term the two businesses will
continue to be run relatively independently, to ensure a considered
and thoughtful integration."
ATTRAQT and Fredhopper, the directors believe, are currently the
only two companies that provide site search, visual merchandising
and personalisation in one integrated platform for the retail
industry. Each has different strengths within its platform.
Fredhopper has long-standing experience in site search, has
developed advanced personalisation capabilities and built a cloud
delivery platform for global implementations. ATTRAQT provides
intuitive administration, AB testing and reporting.
Fredhopper's current owner is global content management and
language solutions provider SDL.
"We are pleased that Fredhopper is to be acquired by ATTRAQT Group
plc," said Adolfo Hernandez, CEO at
SDL. "The combination of both businesses will provide customers
with a powerful proposition to solve their complex visual
merchandising challenges. We part on excellent terms and wish the
team well for their future."
Following the announcement ATTRAQT shares are now suspended
until re-admission on to the AIM market, which is expected to take
place on 1 March 2017.
About Fredhopper
Fredhopper (http://www.fredhopper.com ) offers powerful on-site
search, navigation, personalisation and merchandising, tailored to
the specific needs of leading retailers. With unmatched expertise
and a passion for retail, Fredhopper helps retailers take control
and focus on the customer experience. And the software is fully
scalable when retailers are ready to grow.
Fredhopper is the only tool that allows retailers to blend
automated, commercially driven business rules with strategic
control over every element of search & merchandising. It
enables a fully personalised customer journey, from search results
to recommendations to product placements. All in an easy-to-use
interface aimed at marketing professionals.
About ATTRAQT Group PLC
ATTRAQT Group PLC launched its merchandising platform, Freestyle
Merchandising, in 2009. It provides product recommendations, site
search and visual merchandising. The company now has over 120
clients including Vans (NASDAQ: Vans), boohoo.com (LSE: BOO) and
Superdry (LSE: SGP). The Group has market presence in Western Europe and North America with offices in London and Chicago. For more information please visit:
http://attraqt.com
For further information please
contact:
Claire Armitt
flannel
+44-(0)-1273-921-174 /+44-(0)-7985-297-842
claire.armitt@no-flannel.com