Date Posted: 9/25/2007
Sage eyes acquisitions of software makers in Germany - CEO
FRANKFURT (Thomson Financial) - Sage Group (LSE: SGE.L - news) plans to expand in Germany through purchases of business software makers which cater for small companies or focusing on specific industries, chief executive Paul Walker told Handelsblatt in an interview.
Sage, a UK business software supplier to small and mid-sized companies, has yet to achieve 'critical mass' in Germany, where Sage's position is weaker than its presence in other main markets in Europe, Walker said.
Sage has hired consultants in its search for acquisitions in the German market, which is 'very fragmented and where many companies are controlled by families or banks', he was quoted as saying.
Sage has tried and failed to buy Lexware, owned by the publishing company Haufe, the CEO said.
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