Sage has £400m to spend

FTSE 100’s only software firm, accountancy vendor Sage, says it is still
looking for deals despite losing out in its bid for Norwegian company, Visma.

Paul Harrison, Sage finance director, said the company had £400m to spend.

‘We do as a board regularly consider our position on returning cash [to
shareholders],” he said. “[But] because of the opportunities … it makes sense
to retain the firepower we have,’ Harrison said.

Harrison’s comments came after Sage revealed sluggish first half results.

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