Feeds

Sage walks away from TeamSystem bid

Exits €650m takeover war

Choosing a cloud hosting partner with confidence

Sage is reportedly not bidding for Italian business management firm TeamSystem, after it mulled putting in a £542m (€650m) offer for the company last week.

Sources told the Financial Times late on Friday that no bid was put forward for TeamSystem, which is being sold by private equity outfit Bain Capital, following due diligence of the biz.

The unexpected exit by Newcastle-based Sage means that private equity companies Cinven and HgCapital, which have both bid for TeamSystem, are now in the running to take over the firm.

As the FT noted, this is the second time Sage has cautiously stepped back from bidding for a company because it doesn't want to splurge too much cash on any takeover bid.

In July Sage walked away from a bidding war over Teta because it couldn't justify raising its offer for the Polish IT provider. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
PEAK APPLE: iOS 8 is least popular Cupertino mobile OS in all of HUMAN HISTORY
'Nerd release' finally staggers past 50 per cent adoption
Microsoft to bake Skype into IE, without plugins
Redmond thinks the Object Real-Time Communications API for WebRTC is ready to roll
Microsoft promises Windows 10 will mean two-factor auth for all
Sneak peek at security features Redmond's baking into new OS
Mozilla: Spidermonkey ATE Apple's JavaScriptCore, THRASHED Google V8
Moz man claims the win on rivals' own benchmarks
Yes, Virginia, there IS a W3C HTML5 standard – as of now, that is
You asked for it! You begged for it! Then you gave up! And now it's HERE!
FTDI yanks chip-bricking driver from Windows Update, vows to fight on
Next driver to battle fake chips with 'non-invasive' methods
DEATH by PowerPoint: Microsoft warns of 0-day attack hidden in slides
Might put out patch in update, might chuck it out sooner
Ubuntu 14.10 tries pulling a Steve Ballmer on cloudy offerings
Oi, Windows, centOS and openSUSE – behave, we're all friends here
prev story

Whitepapers

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.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.