Sage Group PLC
26 September 2001
SAGE ACQUIRES MICRO INFORMATION PRODUCTS, INC. IN THE US
Acquisition adds non-profit sector to further widen product portfolio
The Sage Group plc ('Sage'), a leading provider of business management
solutions for small and medium-sized businesses, has agreed to purchase Micro
Information Products, Inc. (MIP) for £13.7m to be satisfied in cash.
With 5,000 customers, MIP is a leading US provider of specialised business
applications for non-profit organisations (for example charities, local
government offices and community foundations). MIP has annualised revenues in
excess of £8m, selling predominantly through a reseller channel.
The transaction will add market-leading product ranges NonProfit Series and
Advantage NonProfit to Sage's US product portfolio, which already features
strong brands including Best, Peachtree, MAS 90, Enterprise Suite, Timeslips,
SalesLogix, and ACT!.
Sage's entry into the US non-profit sector highlights its continuing
commitment to provide industry-specific applications that complement and
integrate with the business management solutions used by its 2.7m customers
worldwide. It follows the recent acquisition of the Haitek product for US
manufacturing businesses, and in the UK, the successful entry into the
professional accountants' market through acquisitions over the last two years
such as Hartley, CSM and Apex.
Paul Walker, Sage Chief Executive, commented 'The acquisition of MIP is
consistent with our strategy of offering customers a comprehensive suite of
business management software tailored to their business needs. In common with
all our acquisitions, we expect to create value through selling additional
products and services to MIP customers. Industry-specific acquisitions enable
Sage to address a range of sectors, broadening the opportunities to drive
organic growth by offering more products, services and support to our
customers'.
Contacts:
The Sage Group plc 0191 255 3055
Paul Walker, Chief Executive
Paul Harrison, Finance Director
Phil Branston, Investor Relations
www.sage.com
Financial Dynamics 020 78313113
Giles Sanderson
ENDS
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