Sage Buys into Spain

The Journal (Newcastle, England), October 25, 2003 | Go to article overview

Sage Buys into Spain


Byline: By Guy Anderson

Software giant Sage has continued a push into southern Europe with the pounds 49.1m purchase of a Spanish accounting software company.

And buying Grupo SP has brought the fast-growing Newcastle-based accountancy software group more than 200,000 new customers.

Sage chief executive Paul Walker said: "The acquisition extends our geographical presence to the strategically important Spanish market in which SP is well established.

"Its leading product brands and sizeable customer base provide a sound platform from which we can develop our presence in Spain.

"The acquisition is a significant step forward in our strategy of expanding into attractive new markets where Sage's business model and expertise can add value."

The deal continues an advance south through Europe for Sage, which acquired French software specialist Concept Group of Paris for pounds 6.5m in January this year.

It has also bought American business management software supplier Timberline for pounds 63.9m and South African- based SME and accountancy software maker Softline for pounds 66m. SP - which will add pounds 22.8m a year to Sage sales - specialises in providing accounting software for SMEs in its home market.

Sage plans to retain the SP brand, but develop the business through the introduction of advanced accounting applications and customer relationship software. …

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