Kerridge Commercial Systems (KCS) has agreed the acquisition of MAM Software Group, Inc, the global provider of on-premise and cloud-based business management solutions for the automotive parts, tyre and vertical distribution industries.
The all-cash transaction is approximately $154.2 million. “This all-cash transaction provides MAM Software’s stockholders with a premium over the pre-announcement market price of their shares, and we believe it will allow our team to increase our focus on long-term success that will benefit customers, employees and partners. Together with KCS, we can offer a broader portfolio of solutions to our customers globally,” said Mike Jamieson, MAM Software CEO.
“We have long believed that a partnership between MAM Software and KCS would create a range of significant strategic opportunities,” said Ian Bendelow, CEO of Kerridge Commercial Systems. “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. 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.”