Kalamazoo Plc, the Northfield, Birmingham-based computer and printing services supplier, has signed a conditional agreement to sell its 62% stake in Great American Software Inc, GAS, to Meca Software Inc, Westport, Connecticut for $8m in cash and Meca shares. Kalamazoo has held the majority stake in GAS since 1988, when it bought into the company to gain access to its One-Write-Plus entry-level software for retailers. The balance of the interest in the Boston, Massachusetts-based software business is held by three or four parties, including the two company founders. GAS has between 75 and 100 staff and turned over $8m last year. Kalamazoo’s reasons for selling, according to managing director Mike Langmore, are that the company’s focus is on expansion throughout Europe. More to the point, Langmore is impressed with Meca’s financial offer.
