10th Nov 2005 07:00
10 November 2005Sage acquires French business management software vendor AdonixThe Sage Group plc ("Sage") announces that it has agreed to acquire Adonix S.A.("Adonix"), a vendor of business management software, based in France, for anenterprise value of ‚£78.4 million, to be paid in cash. The acquisition excludesthe businesses of Meta 4 and Formula, previously part of the Adonix Group. Theacquisition is expected to complete within one week of this announcement.Adonix is a vendor of a suite of advanced business management solutions formid-market businesses, including industry-specific software for real estate andmanufacturing. Adonix has approximately 5,000 customers.Adonix's revenue for the year ended 31 December 2004 was ‚£42.6 million* and itsoperating profit was ‚£9.6 million*. At 31 December 2004 it had net assets of ‚£12.4 million*.Paul Walker, Sage Chief Executive, commented, "Acquiring Adonix strengthens ourleading market position in France. Adonix will provide advanced solutions forour existing mid-market customers. In addition, Sage's strong brand will helpattract new customers to Adonix's products, whilst our customer service andmarketing expertise will enable us to sell more software and services toAdonix's customer base."*All financial information calculated on the basis of ‚£1 = Euro 1.480, andexcluding Meta 4 and Formula.EnquiriesThe Sage Group plc +44 (0) 191 255 3068Paul Walker, Chief ExecutivePaul Harrison, Finance DirectorPhil Branston, Investor RelationsTulchan +44 (0) 20 7353 4200Julie FosterNotes to editorsThe Sage Group plc is a leading international supplier of accounting andbusiness management software solutions and related products and services forsmall to medium-sized enterprises. Formed in 1981, Sage was floated on theLondon Stock Exchange in 1989 and the Group now employs over 9,000 peopleworldwide.ENDSAGE GROUP PLCRelated Shares:
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