Business
Acquisition of Azura & total voting rights
Acquisition of Azura & total voting rights.
About this update from Franchise Brands Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7816T\n Franchise Brands PLC\n 29 November 2021\n \n \n \n \n 29 November 2021\n \n \n \n \n FRANCHISE BRANDS PLC\n \n \n \n (\"Franchise Brands\", the \"Group\" or the \"Company\")\n \n \n \n \n \n Acquisition of Azura Group Limited and change to total voting rights\n \n \n \n \n \n Franchise Brands (AIM: FRAN), a multi-brand franchisor, is pleased to announce\n that it has acquired the entire issued share capital of Azura Group Ltd (\"Azura\"), a leading franchise management software system developer (the \"Acquisition\"). \n \n \n Having worked in partnership with Azura in recent years, the Acquisition enables the Group to consolidate its software development and secure ownership of the related intellectual property (\"IP\") created to date, as well as bring Azura's skilled team in-house. The Board also believes there is an opportunity to use Franchise Brands' experience and expertise to grow Azura's business, by improved development of its end-to-end franchise management Software as a Service (\"SaaS\") platform, to enhance sales to other franchise businesses in the UK and overseas.\n \n \n \n \n \n Key highlights\n \n \n · \n Established in 1990, Azura is \n a leading franchise management software system developer. Franchise Brands has partnered with Azura since 2018 to develop and customise the \"Vision\" works management system for Metro Rod and Metro Plumb which is built on Azura's core system. \n \n \n · \n The Acquisition consolidates and secures Franchise Brands' technology development and IP at a time when the Group is embarking on a further, still more ambitious digital journey. The Acquisition is in addition to the Group's announcement earlier in 2021 that an additional £1.5m would be invested in systems development over the next three years to automate as many processes and interactions as possible. \n \n \n · \n A key part of the Group's strategy is to develop a common technology platform across all its businesses that will enhance the end-to-end customer experience and improve the efficiency and productivity of its business, and franchisees. Azura will play a key part in delivering this platform, which will result in enhanced operational gearing.\n \n \n · \n The Board also believes\n that there is considerable scope to develop and grow Azura's business through co...