BT snaps up NSB Retail for £17m

BT has bought the British arm of NSB Retail Systems, the software supplier for many of the country's best known High Street names, for £17m in cash.

Loss-making NSB will transfer 148 staff to BT as part of the deal making the telecoms giant NSB's exclusive UK and Irish distributor while having non-exclusive rights to sell NSB products and services in the rest of Europe, Middle East and Africa.

NSB sells point-of-sale software and business analysis tools to clients ranging from clothing chains Arcadia and Monsoon to Woolworths and Lloyds Pharmacy.

NSB, which narrowed its pre-tax losses in the first half to June to £14.9m from £43.9m a year ago, will use most of the cash from the disposal to reduce debt and expand its North American business.

The deal is subject to NSB shareholders' approval at a meeting on 5 January. Holders of 54.4% of NSB shares have pledged support.