Sage goes Polish for latest buy
£41m for ERP software firm
Geordie accountancy software firm Sage Group has offered £41m for Polish company Teta.
Teta offers personnel and Enterprise Resource Planning software to mid-sized organisations in Poland and Hungary. In the year ended December 2009 it turned over £21m and made a profit of £3m, and had assets of £22m.
The tender offers a 15 per cent premium on Teta's average share price over the last three months.
Departing Sage boss Paul Walker said the buy would complement the firm's existing business in Poland and improve its products and its footprint in eastern Europe. ®