LONDON: Sorted Group Holdings Plc (AIM: SORT), a prominent provider of delivery experience and post-purchase technology, has announced the sale of its “Returns” business, including all related intellectual property such as software, systems, and content assets.
This business, which serves small to medium fashion apparel retailers, charities, and educational institutions, has been acquired by ZigZag Global Limited.
The consideration to be received by Sorted for the disposal is £775,000 in cash, 25% of which will be received immediately with the balance to be received in approximately 30 days. The cash will be used to settle the Clicksit APP Limited liabilities of about £1.4m including accumulated losses and transaction costs.
The gross assets the subject of the Disposal as at 31 December 2023 were approximately £247,000 and generated a profit before tax in the 15 months ended 31 December 2023 of approximately £64,000.
The disposal will allow Sorted to focus on the innovation and growth of “Ship”, its flagship carrier management system, and “Track”, its post-purchase experience solution.
Sorted’s Delivery Experience supports retailers in providing exceptional delivery experiences and analysing post-purchase performance. It enables customers to track deliveries and returns or exchange of parcels with ease.
Founded more than a decade ago, Sorted is trusted by leading retailers – such as Asda, ASOS and M&S – to make customer purchase experiences a differentiator.
The Ultimate Guide to Ecommerce Delivery and Customer Loyalty