29th Oct 2007 06:00
29 October 2007
Acquisition of UK HR/payroll solutions supplier
The Sage Group plc ("Sage"), a leading global supplier of business management software solutions, today announces the acquisition of KCS Global Holdings Limited ("KCS") from its shareholders for ‚£20 million, paid in cash.
KCS is one of the UK's award-winning suppliers of personnel, payroll and time & attendance solutions. The acquisition of KCS, combined with the acquisition earlier this year of HR and payroll specialist Snowdrop, represents an excellent opportunity for Sage to fulfil the growing need of SMEs for specialist advice in HR and payroll with a full range of products. Combined, Snowdrop and KCS deliver to Sage the people, domain knowledge and product set to fully explore the numerous HR and Payroll opportunities available.
Paul Walker, Chief Executive of Sage, commented: "HR and payroll is an important and growing sector of the business software market. This acquisition represents an excellent opportunity for Sage to consolidate its position as one of the leading suppliers in this sector and complements our acquisition of Snowdrop earlier this year."
Enquiries: The Sage Group plc Tulchan Communications Tel: +44 (0) 0191 294 3068 Tel: + 44 (0) 20 7353 4200
Paul Walker, Chief Executive Stephen Malthouse Paul Harrison, Group Finance Director
Cynthia Alers, Investor Relations Director
Notes to editors:
The Sage Group plc is a leading global supplier of business management software solutions and related products and services, principally for small to medium-sized enterprises. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and now employs over 13,000 people worldwide.
KCS is a leading supplier of Personnel, Payroll and Time & Attendance solutions, available separately or as a fully integrated solution. Through first class implementation and support services, KCS ensures a close match to clients' expectations delivering real strategic benefits to a wide range of customers, including Reg Vardy, Specsavers and Paul Smith.
SAGE GROUP PLCRelated Shares:
Sage Group