Vianet Group PLC Strategic acquisition of trade and assets (3388Z)
May 15 2023 - 1:00AM
UK Regulatory
TIDMVNET
RNS Number : 3388Z
Vianet Group PLC
15 May 2023
15 May 2023
Vianet Group plc
("Vianet" or the "Group")
Strategic acquisition of trade and assets
Vianet Group plc (AIM: VNET), the international provider of
actionable data and business insight through devices connected to
its Internet of Things platform ("IOT"), today announces that it
has acquired the trade and assets of Beverage Metrics Inc ("BMI"),
a Denver, USA based provider of inventory software solutions to the
USA hospitality sector, a wholly owned subsidiary of Identec Group
AG.
The acquisition consists of customers, an established operating
platform, software IP, patents for barcode 3D scanning and advanced
technology for point-of-sale data integration. BMI's five employees
will be incorporated into Vianet's USA subsidiary Vianet Americas
Inc. ("VAI") which has worked closely with BMI over the past couple
of years.
The initial consideration payable to BMI is GBP577,500 and will
be satisfied in the form of the issue of 700,000 new ordinary
Vianet shares at a price of 82.5p each with deferred consideration
payable dependent on revenue performance metrics. The deferred
consideration is 7% of net revenue of VAI for the period 01 April
2024 through 31 December 2028, payable in cash and capped at a
maximum of GBP4 million.
For the year ended 31 December 2022 the loss attributable to the
acquired trade and assets was approximately GBP0.76 million and the
independent valuation of the acquired trade and assets was
approximately GBP1.22 million.
The combination of Vianet's SmartDraught draft beer management
solution with BMI's inventory platform provides a comprehensive one
stop drinks management solution which enables operators to reduce
costs, improve productivity and maximise sales, thereby driving
improved profitability across the entire drinks category.
SmartDraught integration with the inventory platform will also
enable Vianet to provide a more cost effective and competitive
brand monitoring and market insight solution for the brewers.
Together with our recent investment in SmartDraught this
acquisition positions Vianet's hospitality operations firmly on the
path to growth in the UK and to establishing a profitable footprint
in the USA. The management looks forward to elaborating further at
the time of our FY 2023 results announcement on Tuesday 13 June
2023.
Application has been made for a total of 700,000 new ordinary
shares to be admitted to trading on AIM ("Admission"). Admission is
expected to occur on 19 May 2023. Following Admission the total
number of voting rights in the Company is 29,508,914. This figure
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change of interest in, the Company under the
FCA's Disclosure and Transparency Rules.
James Dickson, Chairman of Vianet, commented:
"We are delighted to acquire the trade and assets of BMI. Having
worked alongside the team for some years we understand both the
quality of the people and the excellence of the software and we
believe that combining their products and skillset into the Vianet
business will give us a truly market leading offering.
This increased presence in the USA together with our evolving
strategic relationships will give us a significant boost in growing
our presence in what is a huge market, as well as providing us with
increased opportunities in our UK hospitality operations.
Vianet has had an encouraging start to FY2024 and looks forward
to the future with great confidence ."
- Ends -
Enquiries:
Vianet Group plc
James Dickson, Chairman & Interim Tel: +44 (0) 1642 358
CEO 800
Mark Foster, CFO www.vianetplc.com
Cenkos Securities plc
Stephen Keys / Camilla Hume Tel: +44 (0) 20 7397
8900
www.cenkos.com
Investor enquiries:
Dale Bellis Tel: +44 (0) 20 7397
8900
About Vianet
Vianet Group capture and process operational data to produce
critical insight, analysis and actionable information enabling
customers to transform business performance.
Since its Admission to AIM in 2006, the Group has grown from its
core beer monitoring business to widen its offering and develop new
businesses, especially in vending telemetry and contactless payment
solutions particularly for the premium coffee sector.
Servicing over three hundred customers across the world and
rendering live data to our IOT platform from a footprint of over
210,000 connected devices daily, Vianet is one of the largest
business to business connected solutions providers in Europe with
established long-term relationships with blue chip customers and
growing recurring revenues which are over 85% of our total
revenues.
In our Smart Machines division, we connect a single data
gathering device to a customer's asset or system. The device then
sends data back via our IOT platform to cloud based servers. The
flexibility and functionality of the device means the technology
can be applied to any machine which has the capability to output
data. In our award-winning end-to-end solution the device is also
used to connect our contactless payment solution and communicate
payment terms to our cloud-based payment services providers.
The Smart Zones division is where we connect multiple data
gathering devices into one or more systems or assets with the data
from those devices being communicated back to our IOT platform via
a single 4G LTE communications hub. The technology was originally
developed for beverage and asset management in drinks retailing but
can be used with any data gathering device with a digital output
such as gaming machines, utilities management. and POS.
For further information, please visit www.vianetplc.com
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