Sage acquires UK construction software company Tekton
Published on Tue, Apr 01, 2008 at 18:30 | Source : Moneycontrol.com
Updated at Tue, Apr 01, 2008 at 19:26
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Sage acquires UK construction software company Tekton
The Sage Group plc (”Sage”), a leading global supplier of business management software and services, has announced the acquisition of Hallco 1390 Ltd (”Hallco”) from its shareholders for an enterprise value of £21 million, paid in cash
The Sage Group plc ("Sage"), a leading global supplier of business management software and services, has announced 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."
