K3 Business Technology has acquired the innovative software developer, Viji Sas, in an agreement of up to € 1.05 million. (873k £).
Marco Vergani, CEO of the Salford-based software company, which specializes in fashion and apparel brands, said the move for the French company is “strategically significant:”
“We are excited to buy ViJi. It has developed a highly innovative suite of products that meets one of the most urgent needs of our customers, the traceability, transparency and sustainability of their supply chains,” said Vergani.
“The fashion and clothing sector in particular is highly motivated to ensure that their products are produced in an environmentally sustainable and socially responsible way. Consumers also demand greater transparency and increasingly prefer brands that prioritize sustainability. These trends are accelerated by legislation, including , which supports CO2 reduction and increased transparency of supply chains.
“ViJi is extremely complementary and adds strategically important intellectual property and domain knowledge as we focus on the high-growth fashion and apparel sector and help transform retail into the good. We are very pleased to welcome the ViJi team to K3.”
Based in southwestern France, ViJi also works with fashion retailers. Its software helps brands track and authenticate the environmental and social credentials of their supply chains.
It can also convey the ethical history of the products to consumers.
ViJi co-founders Josselin Vogel and Anne-Laurence Villemonteil and their team will join K3 once the acquisition is complete.
“There is a large and underserved market for our truly innovative solutions. The fashion and apparel industry – which is our specialty – lacks efficient software, and we are pleased to join K3 with its well-established reputation in this sector and relevant international customers. products are an excellent fit and will accelerate K3’s ambitions in sustainability, ”they said.
K3 will finance the acquisition with an initial cash investment of € 0.35 million. in the first year, with additional cash consideration, limited to € 0.7 million, due over the next two years, depending on certain performance targets.