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Shoply to acquire 100 per cent of Anyware Technologies in merger

Shoply to acquire 100 per cent of Anyware Technologies in merger

Projected revenue for the merged companies for FY2016 will be $50 million

Anyware manager director, Garrison Huang

Anyware manager director, Garrison Huang

Online retailer, Shoply, will acquire 100 per cent of distie, Anyware Technologies, in merger plans announced in a filing on the ASX.

Under terms of the agreement, Anyware Technologies managing director, Garrison Huang, will inject $1 million to Shoply through an entity he controls giving Anyware a 19.99 per cent share of the total issued capital of Shoply, initially.

Anyware Technologies also includes e-commerce business, Harris Technology, which it acquired from Wesfarmers.

Projected revenue of the two merged companies for FY2016 is $50 million. Projected EBITDA is $2 million..

Shoply includes the two companies, eStore and Warcom, both electronics retailers. Combined with Harris Technology they will deliver larger scale and greater synergy , according Huang in a statement to ARN.

He said the other businesses of Shoply (Your Home Depot and Wowbaby) will also enjoy less overhead due to shared resources such as marketing, accounting, warehousing and shipping facilities and extra buying power.

"Anyware’s distribution business can also benefit from the merger due to larger scale of combined companies coupled with the public company image as well as the potential to raise capital for future growth," he said.

"Anyware Corporation Pty Ltd will continue to trade under Anyware and it will be business as usual.

"Anyware will continuously service the reseller channel it has serviced for the last 17 years and ensure we deliver greater value to all existing and new resellers.

"The business of distribution will continue and also be enhanced. As a matter of fact, we have recently upgraded our SAP ERP system and also are working on a new Warehouse Management System to ensure our capacity in distribution is further improved."

Huang said there will be two streams of business - IT niche distribution and e-commerce.

Harris Technology – including its highly respected e-commerce site ( - will continue to operate as Harris Technology.The e-commerce business sites will be streamlined in time.

Huang said all Anyware, Harris Technology and Shoply businesses will go through a period of restructuring. There would be opportunities for cost cutting and resource sharing which will deliver better profitability and consequently greater shareholder returns.

Shoply chairman, Andrew Plympton, said, "We are delighted to have entered into a heads of agreement for the proposed merger of our existing e-commerce with the Anyware and Harris technology businesses.

"The merger will represent a unique and exciting opportunity to enhance Shoply's position in the business technology sector of the e-commerce industry, and will enable Shoply to deliver on its key strategic objectives of growth through acquisition.

"Whilst the merger will increase Shoply's existing focus on its IT and business technology division, Shoply remains committed and continues to execute its previously announced restructure strategy to consolidate and enhance its homeware's division and Your Home Depot business. These initiatives are well progressed and we look forward to providing further updates to shareholders on this front."

"We are pleased to have secured a placement to raise $1 million. at a significant premium to Shoply's prevailing share price. Garrison's significant upfront investment in Shoply demonstrates his endorsement of Shoply and strong support for the merger, the expected benefits of which flow to all of our shareholders. We look forward to welcoming him as a major shareholder and director of Supply."

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Tags online retailShoplyHarris technologies

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