Software giant to pursue acquisitions?
Could acquisitions be on the horizon for software giant Sage.
Software giant Sage has revealed it could look to secure several
acquisitions following a jump in profits.
The firm saw profits increase by 15 per cent in the six months
to the end of March, rising from £139.2 million to £159.6 million,
according to nebusiness.co.uk.
Furthermore, it is expected that the good performance could be
extended thanks to a surge in demand from small to medium-sized
enterprises that has previously refrained from purchasing Sage
products due to the recession.
With the firm looking buoyant, acquisitions could be on the
horizon, with the company having already bought the South African
payment processing company Netcash for £8.4 million.
Paul Walker, the company's chief executive, told the news
provider: "With our substantial and growing customer base in South
Africa, the acquisition offers Sage an attractive opportunity to
extend integrated and secure transaction processing services to
He added that in the short term, the company's priority would be
to manage cost base.