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Software giant to pursue acquisitions?

Could acquisitions be on the horizon for software giant Sage.

05 May 2010

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 those customers."

He added that in the short term, the company's priority would be to manage cost base.

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