Berkshire: Snow Valley acquired by MICROS
Target Corporate Finance has played a key role in the acquisition of e-commerce and technology firm Snow Valley to American-owned MICROS-Fidelio UK.
The corporate finance team, led by Managing Director Mark Harman, were advisers to Snow Valley on the deal, which will help further its expansion into Europe.
Founded 10 years ago by CEO Carlo Rimini, Snow Valley has grown into an award-winning business, with clients including Majestic Wine, Clarks Shoes and the Ordinance Survey.
Commenting on the deal, Mark Harman said: “Snow Valley and MICROS are a perfect fit. The two businesses are highly complementary and can now look forward to benefiting from the ongoing growth in e-commerce together.”
MICROS-Fidelio UK is part of NASDAQ-listed MICROS Systems Inc, which specialises in enterprise applications for the retail and hospitality industries. In 2010 MICROS turned over $914m worldwide.
Carlo Rimini said: “This is a very exciting development for Snow Valley and our clients. Our mission has always been to help retailers grow their businesses through the innovative and effective use of e-commerce.
“Joining the MICROS family will allow Snow Valley to continue that work, while also providing us an extended range of products to help retailers develop their multi-channel strategies.”
Following the deal, Snow Valley and MICROS will be offering their complementary enterprise and Software-as-a-Service e-commerce platforms, Fry OCP and MUSE, to new and existing customers throughout the UK and Europe.
Advisers
Vendor Lead Advisory: Target Corporate Finance (Mark Harman)
Vendor Legal: Briffa & Co
