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Sage Group PLC (SGE)

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Friday 21 September, 2012

Sage Group PLC

Acquisition

RNS Number : 8254M
Sage Group PLC
21 September 2012
 



 

Friday 21 September 2012

 

Sage acquires EBS and Cenize in Brazil

 

The Sage Group plc ("Sage") announces that through its subsidiary Folhamatic Tecnologia em Sistemas S.A. ("Folhamatic"), it has acquired EBS Empresa Brasileira de Sistemas Ltda. ("EBS"), a provider of accounting, business management and tax software in Brazil for a cash consideration of up to £10.6m* (R$35.0m), including a payment of £1.8m (R$6m) linked to the future financial performance of EBS.  EBS has approximately 4,000 customers, comprising c.2,300 accounting firms and c.1,700 other businesses.  The head office is in the state of Paraná, in Southern Brazil, where the majority of customers are based.  The acquisition strengthens Sage's market leadership position in the accounting firm market in Brazil and extends the geographic breadth of its offering, particularly in the Southern region. 

 

Sage has also recently acquired Cenize Informática Ltda. ("Cenize") through Folhamatic, for a cash consideration of up to £3.9m* (R$12.9m), including a payment of £2.7m (R$9.0m) linked to the future financial performance of Cenize.  Cenize is a provider of accounting software to over 7,000 small and micro businesses in Brazil, an attractive market segment with significant growth potential. 

 

These acquisitions will be integrated into Folhamatic, the leading provider of accounting, tax and payroll and regulatory content software in Brazil, which was acquired by Sage in June 2012.

 

Commenting on the acquisition, Guy Berruyer, CEO of Sage, said:

 

"We are pleased to announce the acquisitions of EBS and Cenize which are in line with our strategy of expanding our footprint in Brazil.  These businesses are high growth, with recurring revenue models and are focused on core SME accounting customers.  They are also highly complementary to Folhamatic, expanding our addressable market by geography and by segment."

 

 

 

About Sage

The Sage Group plc is the leading global supplier of business management solutions to small and medium-sized enterprises. Formed in 1981, Sage was floated on the London Stock Exchange in 1989. Sage has over 6 million customers and more than 12,600 employees worldwide. We operate in over 24 countries covering the UK, mainland Europe, North America, South Africa, Australia and India. For further information please visit www.sage.com

 

 

 

Enquiries

The Sage Group plc +44 (0) 191 294 3068

Guy Berruyer, Chief Executive Officer

Paul Harrison, Chief Financial Officer

Murdo Montgomery, Investor Relations

 

Tulchan Communications +44 (0) 20 7353 4200

David Shriver

Lucy Legh

 

* All financial information calculated on the basis of £1 = R$ 3.29

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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