Timber industry software supplier Kerridge Computer Company Ltd has been acquired by one of the world’s largest business software and service providers US-based Automatic Data Processing (ADP) Inc for about US$300m.
Hungerford-based Kerridge, whose name has been changed to Kerridge-ADP, said the deal would give the company the financial strength and resources necessary to market its K8 product throughout Europe and globally.
Kerridge’s existing board of directors will continue “with no significant change of management or direction” in terms of the company’s industrial wholesale and distribution markets, with “business as usual” in the timber sector.
Former Kerridge managing director Mike Dorward, who has been appointed vice-president of Kerridge-ADP, said: “As the wholesale and distribution market place continues to evolve and globalise, it is important that Kerridge is backed by the sort of resource and capacity that can deliver our K8 solution, wherever required by clients, regionally or internationally.”
K8 is used widely by timber merchants, including Howarth Timber and International Timber, and incorporates sales order processing, quotations, inter-branch trading, stock management, importing and contract purchasing and real-time managment information.
ADP, which employs 42,000 people and has an annual turnover of US$8.5bn, said the acquisition gave it an excellent opportunity to enter the commercial distribution and wholesale market place. It said it was “excited” to be able to offer K8.
ADP provides integrated computing solutions to more than 19,500 car, truck, motorcycle, marine and recreational vehicle dealers throughout the US, Canada and western Europe.
