24/11/11
By Karen Moss
Reply has acquired 80 per cent of Portaltech shares for £1.6 million. Portaltech counts among its clients; Monsoon & Accessorize, L.K. Bennett, Bunzl Group, Long Tall Sally, Royal Mail Group, Premier Farnell and Thompson & Morgan.
Portaltech’s anticipated turnover for the fiscal year ending 31 May 2012 is approximately £4.5 million. Reply purchased the shares for £1.6 million, with further options for Reply to acquire the remaining 20 per cent.
Mario Rizzante, chairman of Reply, says: "With Portaltech our Group has acquired high level specialist skills within a market that has one of the highest growth rates and where the main retail players are currently focusing the majority of their investment.
Andrew Walker, CEO of Portaltech, says: "“As part of Reply we plan to take advantage of their global scale and financial strength in order to accelerate our growth and geographical footprint, positioning Portaltech as a global leader in e-commerce and multichannel technology consulting."
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