Feeds

Sage poised for huge Italian buy

New boss plots €650m bid

Application security programs and practises

The recently installed chief executive of Sage is planning a massive bid for Italian business management firm TeamSystem.

The deadline for bids is tomorrow but Sage looks likely to beat two private equity groups for control of the firm.

Sage will offer £542m (€650m), outbidding offers from private equity firms HgCapital and Cinven, the FT reports.

Sage's new chief executive, Guy Berruyer, who only took over in mid-July having previously run the accountancy specialist's European and Asian business, will presumably get the credit if the deal goes through, though we're guessing the bid has been in preparation for some time.

Sage said yesterday that trading was in line with expectations, and organic growth was strengthening.

The Newcastle-based company has made a series of buys in recent years, but all of these were on a much smaller scale.

TeamSystems makes enterprise resource planning, business intelligence, HR systems as well as storage and archiving products.

Earlier this week Reuters reported that Sage was itself the target of a takeover from Hitachi. ®

The smart choice: opportunity from uncertainty

More from The Register

next story
Whoah! How many Google Play apps want to read your texts?
Google's app permissions far too lax – security firm survey
Chrome browser has been DRAINING PC batteries for YEARS
Google is only now fixing ancient, energy-sapping bug
Do YOU work at Microsoft? Um. Are you SURE about that?
Nokia and marketing types first to get the bullet, says report
Microsoft takes on Chromebook with low-cost Windows laptops
Redmond's chief salesman: We're taking 'hard' decisions
EU dons gloves, pokes Google's deals with Android mobe makers
El Reg cops a squint at investigatory letters
Big Blue Apple: IBM to sell iPads, iPhones to enterprises
iOS/2 gear loaded with apps for big biz ... uh oh BlackBerry
OpenWRT gets native IPv6 slurping in major refresh
Also faster init and a new packages system
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.