Acquisition

Clarity Commerce Solutions PLC 01 November 2004 CLARITY COMMERCE ACQUIRES RESORT SOFTWARE SUPPLIER Clarity Commerce Solutions plc ('Clarity'), a leading supplier of software management solutions for the leisure sector, has acquired Baron LRMS Limited (' Baron'), a UK-based company that builds, develops and provides support software for the leisure, spa and golf resorts sector around the world. The consideration is for a maximum of £600,000 in cash, payable in two tranches over eighteen months. Baron, which was founded 20 years ago, has a long-standing and high quality customer base. Baron's systems are installed in over 120 of the world's most prestigious clubs and resorts. Contracted customers include Hilton Group, De Vere Hotels, Jumeira Group, Inmogolf S.A / La Manga Club, The Roehampton Club, Gleneagles Hotel PLC, The Royal Automobile Club, St Andrews Links Trust and the Sheraton Hotel Group. Baron's products provide membership management and specialist bookings control in the various markets in which they operate. Baron's software supports approximately 500,000 membership accounts and processes approximately 750,000 rounds of golf per annum. The acquisition is another step in Clarity's strategy to build a portfolio of complementary software solutions and products for the entertainment, leisure and hospitality sector, particularly for customers with operations in many sites. This acquisition is an important step, as it not only brings to Clarity a blue-chip portfolio of clients, but also will enable Clarity to cross sell its enlarged range of products. In its unaudited management accounts for the year ended 31 August 2004, Baron reported turnover of £0.9 million and net liabilities of £0.1 million. One of the vendors of Baron is a company owned by a trust, which was settled by ALR Morton, the Chairman of Clarity. The Company has received legal advice that the acquisition of Baron is not a related party transaction as defined by the Aim Rules. Graham York, Clarity Chief Executive, commented: 'This acquisition represents another significant milestone for Clarity. The Baron software portfolio will enhance the Group's suite of products, carrying us into new market sectors, which are very well aligned with our existing range of products. In addition, the worldwide customer base of Baron adds to our growing international presence.' Michael Barrett, Managing Director of Baron, said: 'Clarity provides us with the ideal vehicle for growth, enabling Baron to deliver solutions to a potentially far broader customer base. Our existing clients will benefit from the complimentary products and services provided by the enlarged group.' 1 November 2004 Enquiries: Clarity Commerce Solutions Graham York, Chief Executive Officer Tel: 01722 746 200 College Hill Adrian Duffield/Clare Warren Tel: 020 7457 2020 This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings