Private equity to buy Systems Union
Business software group to be purchased by private equity
The group that owns business software products Pegasus and SunSystems is
lined up for a £220m sale to rival firm Extensity.
The bid for Systems Union, which has been financed from Extensity’s private
equity owners Golden Gate Capital, would help SU gain ‘critical mass’, and
create a group with over $500m in revenues.
SU chief executive officer Paul Coleman, will inform tomorrow’s AGM that
shareholders should accept the offer.
Extensity is the new name for the financial software arm of Geac, which was
taken over by Golden Gate last month.