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Sage gets upclose to personnel with KCS buy
Spends £20m to increase SME market share
Acquisition-happy accounts software firm Sage has gobbled up UK-based finance and HR software supplier KCS Global Holdings for £20m.
The cash-only deal is the latest in a series of buy-outs made by Newcastle-based Sage, which is the only British software firm listed on the FTSE 100.
The firm said that by combining the KCS acquisition with HR and payroll specialist Snowdrop, which Sage bought earlier this year, it hoped to capture a larger share of the SME market.
Sage CEO Paul Walker said: "This acquisition represents an excellent opportunity for Sage to consolidate its position as one of the leading suppliers in this sector and complements our acquisition of Snowdrop earlier this year."
Surrey-based KCS, which also has offices in Birmingham and Suffolk, has a number of well-known British clients on its books including Specsavers and Paul Smith.
In the past year Sage, which earlier this month ripped a hole in its US management team, has been on a sizeable spending spree with the acquisition of a number of companies including French outfit XRT and Swiss firm Pro-Concept SA.
Shares in Sage are currently trading at 241.25 pence on the London Stock Exchange, no change on the previous close. ®