Sage acquires UK construction software company ...
31 March 2007
Sage acquires UK construction software company Tekton
The Sage Group plc ("Sage"), a leading global supplier of business management
software and services, announces the acquisition of Hallco 1390 Ltd ("Hallco")
from its shareholders for an enterprise value of £21 million, paid in cash.
Hallco's revenues for the half year to December 2007 were £4.5m, based on
unaudited management accounts.
Hallco 1390 Ltd trades under the name of Tekton Group Ltd ("Tekton") and
provides specialist construction software, implementation and support services
to more than 230 companies throughout the UK & Ireland. With high levels of
localised legislation and compliance in the construction industry, companies
require specific local knowledge and expertise from their software suppliers,
which companies such as Sage and Tekton are able to provide.
Paul Walker, Chief Executive, said, "Tekton complements Sage's existing
expertise in the construction industry and will broaden our portfolio of
solutions for medium-sized customers. The acquisition of Tekton strengthens
Sage's leading market position in this sector and completes our range of
construction solutions, from small companies through to larger customers in the
mid-market."
Enquiries: The Sage Group plc Tulchan Communications
Tel: +44 (0) 0191 294 3068 Tel: + 44 (0) 20 7353 4200
Paul Walker, Chief Executive Stephen Malthouse
Paul Harrison, Group Finance Director Lizzie Morgan
Cynthia Alers, Investor Relations
Director
Notes to editors:
The Sage Group plc is a leading global supplier of business management software
and related services, with 5.5 million customers worldwide. Formed in 1981,
Sage was floated on the London Stock Exchange in 1989 and now employs over
13,900 people worldwide. Sage has over 40,000 existing customers in the
construction sector in the UK & Ireland. www.investors.sage.com
Tekton Group Ltd is one of the leading suppliers of business solutions to the
construction industry in the UK and Ireland, providing specialist construction
software, implementation and support services to more than 230 companies
throughout the UK & Ireland. www.tekton-group.com
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