Software firm plans new growth

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Software and IT services company Sanderson Group is planning to raise £3.5 million on the stock market after acquiring cloud-based software specialist One Iota.

Sanderson was founded in Sheffield and has a major operation at Catcliffe which develops software for the manufacturing sector and is the group’s centre of expertise for developing apps for iPads and mobile devices

The company also develops software for multi-channel retailers – store groups selling goods over the internet, by telephone and mobile phone and mail order as well as street outlets.

Lancashire-based One Iota is a leading supplier of a cloud-based modular software system for multi-channel retailers, called MESH, which is used by a number of leading retailers

The deal with One Iota comes two months after Sanderson announced it was paying just under £645,000 for Catan Marketing, which provides e-commerce solutions under the ‘Priam’ trading name to more than 30 multi-channel retailers.

Sanderson plans to raise the £3.5 million by placing 6,363,636 new ordinary shares on the Alternative Investment Market.