Feeds

Sage takes lion's share of XRT

Acquisition-happy firm gobbles up 70%

Security for virtualized datacentres

Sage, the UK-based biz management software maker, has acquired a majority stake in French firm XRT.

The cash-only deal will see Sage buy £30m shares, or €1.67 per share, the transaction should close within a few days.

Sage said that, following the deal, it will put in an offer to acquire the remaining 30 per cent from XRT's shareholders. It added that the firm reported revenues of £22.2m in the year ended 31 December 2006.

XRT, which has about 6,000 customers worldwide, provides treasury management and payment software for medium-sized organisations in France, Spain, Italy, Portugal and Latin America.

Sage CEO, Paul Walker, said: "XRT's advanced mid-market solutions for the cash management sector build on our existing Concept business (acquired in 2003) and complement our leading business management software for the SME industry."

Shares in Sage are currently trading at 246 pence on the London Stock Exchange - up 2.39 per cent on the previous close. ®

Internet Security Threat Report 2014

More from The Register

next story
ONE MILLION people already running Windows 10
A third of them are doing it in VMs, but early feedback focuses on frippery
Netscape Navigator - the browser that started it all - turns 20
It was 20 years ago today, Marc Andreeesen taught the band to play
Sway: Microsoft's new Office app doesn't have an Undo function
Content aggregation, meet the workplace ... oh
Sign off my IT project or I’ll PHONE your MUM
Honestly, it’s a piece of piss
Do Moan! MONSTER 6-day EMAIL OUTAGE hits Domain Monster
Customers freaked out by frightful service
Return of the Jedi – Apache reclaims web server crown
.london, .hamburg and .公司 - that's .com in Chinese - storm the web server charts
NetWare sales revive in China thanks to that man Snowden
If it ain't Microsoft, it's in fashion behind the Great Firewall
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.