The AURES Group announces that it is in the final phase of negotiations to acquire 100% of J2 Systems Technology Limited, a UK company manufacturing point of sale terminals.
J2 Retail Systems Limited is a major player in the point of sale equipment market in the United Kingdom. J2 Systems Technology Limited also has a subsidiary in the United States (J2 Retail Systems Inc), and another in Australia (J2 Retail Systems Pty Ltd).
The J2 Systems Technology Group generates 60% of revenues outside the United Kingdom.
As per financial statements for the year ended 30 June 3012, the J2 Systems group achieved a consolidated turnover of £16.64 million (¤20.8 million at an exchange rate of 0.8) with a notable increase of more than 16% in the United States market.
This transaction will give the AURES Group the opportunity to increase its global position and achieve a turnover in excess of ¤ 50 million in 2013.
This acquisition will be funded partly by the company and partly by loans (two banks and OSEO). Based on current discussions the acquisition should be completed at the beginning of 2013.
"The J2 Systems Group has always been our toughest competitor in Britain. The quality of its products together with sound management and efficient customer service made this great company an expansion opportunity that entirely matched our Group's ambitions.
Its reputation in the United States and its expansion ambitions in this country, which represents the largest market in the world, are essential assets.
This acquisition will make the AURES Group a major international player in the electronic point of sale market" says Patrick Cathala, Chief Executive and founder of the AURES group.
"10 years after its creation, the J2 Systems organization is both proud and motivated to be joining the AURES Group. The two organisations have remarkable synergies, and by integrating into one of the foremost players in the Point Of Sale market allows J2 to accelerate its International growth ambition" says Moray Boyd, CEO of the J2 Group.
About the AURES Group
Founded in 1989 and listed on Euronext Paris since 1999, AURES manufactures point of sale terminals and systems, as well as related peripherals.
Acclaimed for its excellent reliability, this PC-based, open-system EPOS hardware is designed to provide management and till functions in specialist food and non-food stores, retail outlets, superstores, the catering and hospitality industry - and all other points of sale and service.
Offering EPOS equipment featuring innovative designs and a wide range of fully interchangeable colours, the AURES Group is positioned as the most creative leader in its field.
Distribution of AURES' EPOS hardware is based out of the Group's headquarters in France, its three subsidiaries in the United Kingdom, Germany and the USA, and a distributor network present in over fifty countries.
*Electronic Point of Sale terminals
ISIN Code : FR 0000073827
Informations : Sabine De Vuyst
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