Wireless online retailer eXpansys has
acquired
YooNoo,
the owner of web sites
globalpositioningsystems,
shiroi
and
goaudio,
for a total payment of up to £1.2m.
YooNoo, through its globalpositioningsystems web site, is the market leading
online retailer of satellite navigation systems in the UK. The directors of
eXpansys believe that YooNoo will fit neatly into the eXpansys group and that
significant cost savings will be achievable through economies of scale,
particularly in warehousing, financing and IT.
Roger Butterworth, chief executive of eXpansys, said: “YooNoo owns three
significant web brands with a reputation for providing good customer service and
having real product knowledge, so I am delighted to announce the purchase of
this business which adds depth to the eXpansys group of companies. We intend to
continue their excellent work and to add their products to our own web
properties across Europe and North America.”
In April eXpansys successfully floated on the London Stock Exchange putting
49.9 per cent of the company up for public offering.
“I believe that, following flotation, eXpansys is well positioned to develop
the YooNoo brands and deliver further growth," he added.
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