Acquisition of UK HR and payroll supplier
The Sage Group plc ("Sage"), a leading global supplier of business management
software solutions, announces the acquisition of Snowdrop Systems Limited
("Snowdrop") from its shareholders for an enterprise value of £17 million, paid
in cash. Snowdrop provides leading human resources, personnel and payroll
management software and related services to over 700 mid - sized businesses in
the UK.
The company, which was established in 1991, provides businesses with the
software to automate and manage more effectively a broad range of HR activities
including recruitment, personnel, pay and flexible benefits, e-HR, training and
development and succession planning.
In the full year to December 2006, Snowdrop reported revenues of £7.5 million
and EBITA of £1.1 million.
Paul Walker, Chief Executive of Sage comment ed, "The acquisition of Snowdrop
brings to Sage a portfolio of HR and payroll software solutions for the UK mid
- market, complementing our existing software solutions . "
Sage will announce its interim financial results on Wednesday, 9 May.
Enquiries: The Sage Group plc Tulchan Communications
Paul Walker, Chief Executive Julie Foster
Paul Harrison, Group Finance Stephen Malthouse
Director
Tel: + 44 (0) 20 7353 4200
Cynthia Alers, Investor Relations
Director
Tel: +44 (0) 0191 294 3068
Notes to editors:
The Sage Group plc is a leading global supplier of business management software
solutions and related products and services, principally for small to
medium-sized enterprises. Formed in 1981, Sage was floated on the London Stock
Exchange in 1989 and now employs over 13,000 people worldwide.
Snowdrop Systems Limited was founded in 1991 by Human Resources and IT
specialists to deliver effective software solutions to support the HR function.
Snowdrop designs & develops solutions that manage the entire employee
life-cycle from recruitment & personnel to training & development & succession
planning. It has become one of the top suppliers of HR software & services and
has enjoyed strong, stable growth. Snowdrop's clients include Pret A Manger,
Ofcom and Wates Group.
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