Sage acquires again
FTSE100 software giant Sage has continued its long-term strategy of acquisitive growth with the purchase of Swiss-based software company Simultan.
Link: Sage profits shoot up
The £10.7m acquisition gives Sage a stronger foothold in the country’s SME accounting and payroll market. Migration options will be offered to Sage’s 59,000 Swiss customers wishing to upgrade to a more ‘sophisticated’ solution.
Simultan posted £9.8m in revenues for the year ended 2003, with an operating profit of £0.5m.
Paul Walker, Sage chief executive, said: ‘The addition of Simultan to our existing Swiss business establishes Sage as the clear leader in the Swiss SME market. We can now offer a broad portfolio of products and services for the smallest through to the largest Swiss SMEs.’