HUNGERFORD, England — Kerridge Commercial Systems Ltd., a Hungerford-based provider of specialized software, services and support, is buying MAM Software Group Inc., the supplier of business management solutions for the automotive parts, tire and vertical distribution industries.
Kerridge Commercial Systems CEO Ian Bendelow said KCS has "long believed that a partnership between MAM Software and KCS would create a range of significant strategic opportunities.
"MAM has significant traction in the automotive aftermarket sector that augments our solution offering, and this combination also will expand our U.S. market presence," he said.
"We look forward to joining with the MAM team as we invest further in the business to accelerate MAM Software's growth and bring greater value to its customer base."
KCS's all-cash per-share offer of $12.12 for all outstanding shares of MAM values the Blue Bell, Pa.-based software developer at approximately $154.2 million. The offer represents a 14% premium over the stock's closing price on Aug. 30 and a 38% premium over the prior 90-day average of $8.80 per share.
"This transaction … will allow our team to increase our focus on long-term success that will benefit customers, employees and partners," MAM Software CEO Mike Jamieson said.
"Together with KCS, we can offer a broader portfolio of solutions to our customers globally."
The transaction, which is expected to close in or prior to the fourth quarter of 2019, is subject to certain customary closing conditions. A copy of the definitive agreement will be made available at MAM's website.
Among MAM's products for the tire and auto-service industry are: VAST Enterprise Retail; VAST Enterprise Wholesale; VAST Enterprise Multi-Store; VAST Retread; Autowork Online; and OpenWebs e-commerce systems.
KCS describes itself as a provider of specialist software, services and support to deliver fully integrated trading and business management solutions to distributive trades customers, large and small. Its mission statement reads: to design and deliver high performance, integrated ERP solutions that enable our distributive trade customers to source effectively, stock efficiently, sell profitably and service competitively.