TIDMPEBB
RNS Number : 0819J
Pebble Group PLC (The)
18 December 2020
18 December 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
THE PEBBLE GROUP PLC
("The Pebble Group," the "Company" or the "Group")
AIM: PEBB
ACQUISITION OF SOFTWARE ASSETS
To accelerate the expansion of Facilisgroup's services
The Pebble Group, a leading provider of technology, services and
products to the global promotional products industry, is pleased to
announce that its Facilisgroup business has acquired software
assets from CoreXpand, a US based software developer, for a total
cash consideration of $5.3 million (the "Acquisition").
Acquisition rationale
-- The Acquisition will expand the services offered by Facilisgroup
through its ecommerce platform via another robust technology
solution, allowing for the easy development of e-stores
ranging from online pop-up shops through to complex inventoried
online stores for its existing and potential Partners (customers)
-- The expanded suite of technologies further enhance Facilisgroup's
compelling credentials, amongst entrepreneurial and growing
businesses in the North American promotional products industry,
as a leading provider of ecommerce platform services which
help businesses manage and grow their operations effectively
-- The Board believes that the addition of such technology
has the potential to significantly expand the subscription
services utilised by existing Partners plus support the
attraction of new Partners to the Facilisgroup platform
The software assets acquired comprise two separate products. The
first, full intellectual property rights on software which supports
online pop-up shops. The second, an in-perpetuity licence with
exclusivity in the global promotional products industry, for
software which supports the customer-facing element of complex
inventory online stores. Together, these products accelerate the
delivery to market a strong Facilisgroup e-stores solution.
Expected impact of the Acquisition
The cash consideration of $5.3m is being funded through cash
flow generated by Facilisgroup, with $1.8m of this deferred and
payable over the next 18 months. In addition to the consideration,
up to $2.0m of in-house development time is expected to be
capitalised in 2021 evolving the acquired assets, expanding their
capabilities and building the back-office element of the complex
inventory online stores.
The resultant product offering is expected to begin generating
revenue by the end of H1 21 with a full suite of product
capabilities expected to be in market in H1 22.
Facilisgroup's vision is to become the ecommerce leader in the
promotional products industry. The growth strategy has three clear
points of focus:
1. responsibly increasing Partner numbers, ensuring Partner
quality remains high and the community relationships we
create with our Partners and suppliers remain strong;
2. developing additional income streams that augment the benefits
available to our existing Partners and suppliers; and
3. developing our technology and strong industry relationships
to offer an adaptation of our existing services to industry
entrepreneurs in the early stage of their business development.
The Acquisition is an important step in adding value to the
business through points one and two above. Our plans are advancing
on point three. We look forward to updating investors on the
progress being made against these three strategies in the Group's
Final Results for the year ending 31 December 2020 ("FY 20"), which
we expect to announce towards the end of Q1 21.
Trading update
The Board is pleased to report that the Group continues to trade
positively and in line with current market expectations for FY 20,
as announced on 26 November 2020.
Enquiries
The Pebble Group plc
Chris Lee, Chief Executive Officer
Claire Thomson, Chief Financial Officer +44 (0) 161 786 0415
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison / Harrison Clarke +44 (0) 20 7184 4384
Berenberg (Corporate Broker)
Chris Bowman / Simon Cardron / Arnav
Kapoor +44 (0) 20 3207 7800
Belvedere Communications (Financial thepebblegrouppr@belvederepr.com
PR) +44 (0) 7715 769 078
Cat Valentine +44 (0) 7967 816 525
Keeley Clarke +44 (0) 7407 023 147
Llew Angus
About The Pebble Group plc - www.thepebblegroup.com
The Pebble Group is a provider of technology, services and
products to the global promotional products industry, comprising
two differentiated businesses, focused on specific areas of the
promotional products market:
Brand Addition - www.brandaddition.com
The Group's promotional product merchandise business, Brand
Addition, is a leading provider of promotional products to global
brands. Brand Addition utilises its global network to source and
deliver complex and creative promotional product solutions to
support the marketing efforts of its multi-national clients, who
operate in sectors which include health & beauty, fast moving
consumer goods, transport, technology, banking & finance and
charity. Brand Addition's clients primarily comprise major global
brands under contract.
Facilisgroup - www.facilisgroup.com
The Group's SaaS business, Facilisgroup, provides
subscription-based services to SME promotional product distributors
(Partners) in the United States and Canada. Facilisgroup's suite of
services includes business intelligence software, buying power and
community events. Through its @ease proprietary software,
Facilisgroup offers a SaaS technology platform that enables its
network of Partners to improve order management, CRM and sales
analysis and reporting. Facilisgroup also provides its Partners
with access on favourable terms to a selected group of preferred
suppliers, by consolidating the purchasing power of its Partners.
This attracts rebates from suppliers, who in turn benefit from
efficient access to a network of high-quality distributors.
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END
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