Sanderson secures acquisition

Sanderson Group, the software and IT services business, has acquired the entire issued share capital of One iota, a provider of cloud-based multi-channel retail services, for up to £5.43m.

Sanderson, which employs around 30 staff at its manufacturing base in Sheffield, plans to raise £3.5m, before expenses, by a placing of more than 6m new shares.

One iota, based in Rossendale, Lancashire provides cloud-based, multi-channel services via mobile, tablet and in-store devices.

Commenting on the acquisition, Christopher Winn, the company’s chairman, said:

“We are delighted to welcome the One iota team, led by Damian Hanson and David Hague into the Sanderson group. Following the acquisition of Catan Marketing in August 2013, the One iota acquisition further strengthens the company’s position in the rapidly expanding mobile enabled ecommerce and online sales markets.”

Chris Schofield, Adrian Ballam, Dominic Lush and Lucy Holroyd from law firm Schofield Sweeney, which has offices in Leeds and Bradford, advised Sanderson on both the acquisition and the share placing.

Adrian Frost, finance director of Sanderson, said: “We are very pleased to complete this strategic acquisition and announce the proposed fund raising.”