Sage makes double acquisition in Brazil

21st Sep 2012 07:02

Accountancy software group Sage has acquired EBS Empresa Brasileira de Sistemas, a provider of accounting, business management and tax software in Brazil. The acquisition, which was made through Sage's subsidiary, Folhamatic Tecnologia em Sistemas, cost the group up to £10.6m, including a performance related sum of £1.8m. The acquistion of EBS, which has around 4,000 customers, is being made to strengthen Sage's market leadership position in the accounting firm market in Brazil and extend the geographic breadth of its offering, particularly in the Southern region of the country.Sage also recently acquired Cenize Informática through Folhamatic, one of Sage's newest businesses, for a cash consideration of up to £3.9m, including a payment of £2.7m linked to the future financial performance of the business. Cenize is a provider of accounting software to over 7,000 small and micro businesses in Brazil. Both acquisitions will be integrated into Folhamatic, the leading provider of accounting, tax and payroll and regulatory content software in the country. Guy Berruyer, Chief Executive Office of Sage, said: "We are pleased to announce the acquisitions of EBS and Cenize, which are in line with our strategy of expanding our footprint in Brazil. These businesses are high growth, with recurring revenue models and are focused on core SME accounting customers. They are also highly complementary to Folhamatic, expanding our addressable market by geography and by segment."NR