Acquisition(s)

15th Feb 2005 07:00

15 February 2005Sage acquires Polish business management software vendor SymfoniaThe Sage Group plc ("Sage") announces that it has entered into an agreement toacquire the business and assets of Symfonia, based in Warsaw, Poland, for anenterprise value of ‚£10.3m. The acquisition will be paid for in cash. Thecompletion of the acquisition is conditional upon regulatory and otherclearances.Symfonia is a leading vendor of accounting solutions for small to medium-sizedbusinesses (SMEs) in the Polish market, with over 35,000 customers. Its revenuefor the year ended 31 March 2004 was ‚£4 .4 million, and its operating profitwas ‚£0.8 million. The acquisition will extend Sage's coverage into the Polishmarket for the first time.Paul Walker, Sage Chief Executive, commented, "Poland is a new and attractivemarket for Sage. Symfonia has a strong market presence in Poland, and webelieve our highly experienced management team in Mainland Europe will be ableto add significant value to the business."All financial information calculated on the basis of ‚£1 = 5.83 Polish ZlotyEnquiries The Sage Group plc +44 (0) 191 294 3055 Tulchan +44 (0) 20 7353 4200 Paul Walker, Chief Executive Kirstie Hamilton Paul Harrison, Finance Director Phil Branston, Investor Relations Notes 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 nearly 8,000 peopleworldwide.END

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