Sage acquires TAS Software
Newcastle-based software giant Sage has signalled its intent to boost its SME market share after acquiring TAS Software today in a £9.7m cash deal.
The acquisition, which follows four months of discussions between the parties, will allow Sage to sell its products directly to SMEs – a channel the company had not fulfilled before the deal.
According to Sage managing director Graham Wylie, talks between the company had taken place over the last four or five years. However discussions only became serious in November.
As part of the deal Sage will sell its e-business offerings to the TAS customer base, while the TAS brand will be retained.
Wylie, said: ‘The TAS brand is well known with accountants and businesses and we will continue to push the name.’ He denied the deal would signal a flood of further deals after a busy 2000.
‘We are not in any talks with any other companies at this stage. We will continue to grow our customer base,’ he said.
Last year Sage made a number of acquisitions including a £9m deal for CSM, a £2.55m buy-out of Hartley and the £15m takeover of Apex.
TAS specialises in accounting and payroll software, which complements Sage’s existing range of software for SMEs. It employs 65 people in its Epsom office and 23 people in its Dublin office.
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