K3 acquires Merac to enhance leisure PoS offering
Stonehenge, Longleat Safari Park, Castle Howard, Adventure Island and Crealy Great Adventure Parks use Merac
IT services firm K3 Business Technology Group has acquired Merac for an initial £1.27 million in cash. A further payment of up to £175,000 is due in 2017, dependent on performance.
Established in 2001, Merac is the author of an electronic point-of-sale and management system for the visitor attractions and leisure sector. Its solution, ‘MStore’, covers ticketing, hospitality and retail, as well as admission control, bookings, membership management, marketing, stock control, purchasing, customer relationship management and event management.
In the financial year ended 31 March 2016, the company generated revenue of £1.24 million and an adjusted profit before tax of £330,000. Its net assets at that date were £300,000.
Merac’s customers include many of the UK’s leading historic houses, zoos, theme parks, museums, gardens and heritage railways. Visitor attractions which deploy Merac’s solution include Stonehenge, Longleat Safari Park, Castle Howard, Adventure Island, Crealy Great Adventure Parks, Alnwick Castle and Wookey Hole Caves.
The acquisition, said K3, enhances its existing presence in the visitor attractions and leisure sector and is in line with the group’s strategy to develop its portfolio of wholly-owned IP products.
K3 chief executive David Bolton, said: “Merac has developed a leading solution for the visitor attractions and leisure sector. Its addition is entirely complementary and increases our existing presence in the sector as well as adding to our portfolio of wholly-owned IP.”
@AntonySavvas