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ATTRAQT Group upbeat about integration of Fredhopper

"We are already seeing the significant potential of the combined group," said André Brown, the chief executive of ATTRAQT.
Management team
A new executive team, formed of senior staff from the ATTRAQT and Fredhopper businesses, is leading the enlarged group

Shares in online merchandising specialist ATTRAQT Group plc (LON:ATQT) rose as it held out the prospect of bumper cost savings after its takeover of Fredhopper.

The company said the acquisition, which was completed in March, “has been transformational both in terms of the scale and scope of the enlarged group”.

READ ATTRAQT to acquire larger rival Fredhopper from SDL

REVIEW the ATTRAQT investment case

The enlarged group has been reorganised and is now fully aligned under the single ATTRAQT Group brand, offering customers two products; Fredhopper and Freestyle Merchandising.

The integration process has 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, ATTRAQT told investors.

A cost reduction plan has been put in place, with plans for cost optimisation through platform efficiency improvements already under way, but the company is not yet in a position to fully quantify the cost benefits.  

Meanwhile, the company has appointed a new vice president of sales in North America. He is Bruce Gilburne.

"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," declared André Brown, the chief executive of ATTRAQT.

Shares in ATTRAQT were up 4.5% in mid-morning trading.

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Attraqt Group PLC Timeline

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July 09 2018
November 14 2017

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