Sage buys Spanish biz for £55m
Sage is buying Logic Control, a Spanish accounting software vendor, for £55m in cash.
Logic Control has 20,000 customers and takes Sage's Spanish operations into bigger businesses. Logic Control also develops software for accountants.
The company had revenues of £28.2m and an operating profit of £20.6m for the year to 31 December 2004. Net assets at the end of the year were £20.6m. ®