Sage Group PLC
5 April 2000
The Sage Group plc ('Sage')
Acquisition of CSM
Sage announces the acquisition by its subsidiary Sage Software Limited of the
trading assets of CSM Limited ('CSM'), a subsidiary of freecom.net PLC, for
£9.0 million in cash. Sage is assuming net liabilities of £1.058 million of
which approximately £1.3 million relates to deferred license revenue. CSM
generated turnover of £3.8 million in the year to 31 December 1998.
The acquisition will provide Sage with a range of products to sell to the
professional accountants' community.
Graham Wylie, Managing Director of Sage's UK business, commented:
'The acquisition of CSM will further enhance our growing Accountants division.
We believe that the accountancy profession will have a pivotal role to play in
the development of e-business for small and medium-sized businesses.'
For further information please contact:
Paul Walker, Chief Executive
Paul Harrison, Finance Director
The Sage Group plc 0191 255 3000
Jon Earl
Financial Dynamics 020 7831 3113
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