Unfortunately, this website doesn't work in your browser.
The browser you are using is no longer supported by Microsoft—we highly recommend upgrading as soon as possible.
vianet internet of things


Rickitt Mitchell has advised Vianet Group Plc (“Vianet”), a provider of actionable management information and business insight solutions, on the acquisition of Vendman Systems Ltd (“Vendman”) for a total consideration of up to £4.25 million payable in cash.

Vendman, which is based in Hazel Grove, Cheshire, develops, manages, and supports integrated control systems for the unattended retailing industry. Its solutions include stock control, pricing information, data management, account analysis and route planning.

Strategically, the acquisition will establish a one-stop shop portfolio of solutions for unattended retail through the combination of Vianet’s existing expertise with the products and services of Vendman. Vendman provides management services for over 200,000 machines in the UK and European unattended retail markets and has a track record of growth. Vendman has successfully partnered with Vianet’s Smart Machines division, introducing IOT connectivity and contactless payment solutions to Vendman customers.

The initial consideration payable for Vendman is £2 million, in cash on completion, with an earn-out element of up to £2.25m based on the achievement of EBIT targets in the first two years. The initial £2 million of consideration is to be funded by a bank loan with a current blended rate of c. 3% and it is envisaged that the earn-out will be funded from cash reserves.

Commenting on the acquisition, Stewart Darling, CEO of Vianet Group plc, said: “We are delighted to announce this significant strategic acquisition of a valued existing partner, and we look forward to accelerating business growth with the highly experienced and respected Vendman team. I believe the combination of Vendman ERP and mobile software products with Vianet IOT connectivity, data analytics and contactless payment solutions creates an unparalleled portfolio with strong presence in the UK and Europe. This is great news for both sets of customers as we continue to extend our capability, delivering increased value to the unattended retail sector, and in doing so accelerating our pan European growth plans. ”

Vianet Group was advised by Stuart Moss and Robert Bennett of Rickitt Mitchell and a team from law firm Gordons. Grant Thornton’s Leeds and Manchester offices provided financial and tax due diligence on the transaction. Vendman was advised by DTE Corporate Finance and Gorvins Solicitors.

Back to news