Sage makes two niche buys
Sage has made two infill acquisitions, one in the UK and one in France. The accountancy software vendor is to pay £2.5 million upfront for the two companies: P.A.S.E. Ltd in the UK and Meteor SA in France. It will also pay up to £1 million for performance-related earnouts. The respective businesses are to be integrated into Sage Software Ltd in the UK and Sage France. Paul Walker, chief executive, said the companies were in line with "our policy of acquiring companies with substantial customer lists and products which can be linked to our accounting product ranges". P.A.S.E produces "simple Windows-based profit and cash flow forecasting software. It has more than 6,000 users and generated 800K turnover for the year to 31 March, 1998. Meteor is based in Paris and sells accountancy software to small to medium-sized businesses in France. It has more than 17,000 users and generated revenues of 900K for the year to 31 December 1997.®: Click here for more stories
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