K3 Administration Update

As there has been limited communication from both K3 and the Administrators, we wanted to summarise the events so far;

• 1st April - K3 Group announced some refinancing and filed notice of intention to appoint Administrators for K3 Business Technology
• 7th April - The NAV People published a letter from our CEO, Ian Humphries, offering support and advice to both customers and staff
• 21st April - RSM were formally appointed as Administrators
• 23rd April - Approximately 140 staff were made redundant
• 27th April - The NAV People hired a number of key staff who used to work for K3
• 5th May - The NAV People completed a transaction with the Administrators, under the terms of which TNP acquired a licence to the K3 Intellectual Property related to NAV. This secures the interests of those customers who had recently moved (or were in the process of moving) from K3 to The NAV People.

K3 Business Technologies Ltd (Dynamics division) is no longer an operational business and areas such as Support, Consultancy, Development and Account Management have ceased to offer any further service. It is a sad end to what was a good business, at a bad time.

At The NAV People we have already successfully transferred a number of K3 customers and are in the process of transferring other companies that are looking for a new partner. We have recruited additional staff from K3, to join our already passionate and skilled team, to ensure we have the capacity to deal with customers both old and new.

The NAV People have 185 people dedicated to delivering excellent service and support to Dynamics NAV and Dynamics 365 Business Central customers. We are the most experienced NAV company when it comes to supporting NAV and Business Central systems of all ages and sizes.

Our passion for the NAV product is obvious from our name. So, whether you’re looking for a support partner to keep your old NAV going, or someone to advise you on the best way to upgrade to Business Central, we’d love to talk to you.

Regards,

Ian Humphries, CEO