Eurovestech sells KSS Retail

London-based venture capital firm Eurovestech has sold KSS Retail, a provider of price modelling services, to marketing company Dunnhumby for £12.9 million in cash. 


London-based venture capital firm Eurovestech has sold KSS Retail, a provider of price modelling services, to marketing company Dunnhumby for £12.9 million in cash. 

London-based venture capital firm Eurovestech has sold KSS Retail, a provider of price modelling services, to marketing company Dunnhumby for £12.9 million in cash.

KSS Retail was acquired by Eurovestech in June 2003 for £1 million. At the time of the acquisition, KSS Retail was loss-making, but the company’s financial results for June 2009 show that the business generated pre-tax profits of £1.6 million.

Richard Bernstein, Eurovestech’s chief executive, said: ‘I believe this is an excellent outcome and return on investment for Eurovestech. Over the last six years, KSS Retail has been transformed to become a leading provider of price optimisation solutions.’

Eurovestech reported group revenue of £14.5 million and pre-tax profits of £1.9 million in the 15 months to June.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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