Thursday, 17 September 2009

K3 raises money for acquisitions

(By Philip Carnelley, 17 Sep 09, 08:00) K3 Business Technology, provider of systems to the manufacturing and retail industries announced it has raised £1.5m from a new shares issue. The shares were discounted just 2.9% from the market price. The cash will be used for additional working capital and acquisitions. As we said a couple of weeks ago (see 2009 proving tough for K3) K3 is finding conditions difficult, but it is profitable and cash-generative, so it looks like some small acquisitions are indeed in the offing.

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