The deal with the Paris-based group is said to be worth £6.5m, and will see the Newcastle giant, the UK’s only remaining FTSE-100 ranked IT company, gain treasury and cash management software.
Sage will pay an initial amount of £4.7m for Concept in cash and additional deferred payments worth as much as £1.8m depending on how the software performs.
The news was favourably met by the market yesterday as Sage shares closed up 3.5p to 139.5p.
However today the company stock has shed 2% of its value, down to 134p.
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses