ATTRAQT makes progress with integration of Fredhopper
(ShareCast News) - Onsite search, online merchandising and ecommerce personalisation technology provider ATTRAQT Group updated the market on the integration of its acquisition of Fredhopper, which was completed on 8 March.
The AIM-traded company aid the acquisition had been "transformational" both in terms of the scale and scope of the enlarged group and - following the successful completion of the "comprehensive" reorganisation - the company was now fully aligned under the single ATTRAQT Group brand, offering its customers two products - Fredhopper and Freestyle Merchandising.
A new executive team formed of senior staff from the ATTRAQT and Fredhopper businesses was now leading the enlarged group.
The board said the single on-boarding and software development team had already been working collaboratively, while a newly combined product development team had also been created to drive ATTRAQT's future product offering.
In addition, the group formed one integrated sales and account management team.
The integration process also confirmed the potential for "significant" cost savings through better management and forward planning of the hosting infrastructure, as anticipated at the time of the acquisition, the board reported.
A cost reduction plan had now been put in place, with plans for cost optimisation through platform efficiency improvements already under way.
The full benefits of the plan were still to be fully quantified, however, and further detail would be communicated to the market when appropriate, the board assured.
ATTRAQT also announced it had appointed a new vice president of sales in North America, Bruce Gilburne.
The appointment was said to reinforce the group's commitment to international growth across the key markets of North America, Australia and New Zealand, and Europe.
"I am delighted with the integration progress we have made to date and that we are already seeing the significant potential of the combined group," said CEO André Brown.
"A key focus for us throughout the process has been our clients, each of whom has been provided with a Q&A on the acquisition outlining how our combined capabilities will benefits their business.
"The additional appointment of Bruce Gilburne in North America further cements our plans for international expansion, and illustrates why we are, and will continue to be, the go-to player in all our target markets."