Sage announces acquisition of Snowdrop Systems Ltd

RELATED NEWS Sage CRM Solutions receive ISM Inc’s Top 15 CRM Awards Barco India selects Sage Accpac ERP Joe Bergera named GM of Sage Global CRM Organization Nifty BSE | NSE 28/05/12 Are Mutual Funds betting on Nifty?

The Sage Group plc ("Sage"), a leading global supplier of business management software solutions, announces the acquisition of Snowdrop Systems Limited ("Snowdrop") from its shareholders for an enterprise value of £17 million, paid in cash.

Snowdrop provides leading human resources, personnel and payroll management software and related services to over 700 mid-sized businesses in the UK.

The company, which was established in 1991, provides businesses with the software to automate and manage more effectively a broad range of HR activities including recruitment, personnel, pay and flexible benefits, e-HR, training and development and succession planning.

In the full year to December 2006, Snowdrop reported revenues of £7.5 million and EBITA of £1.1 million.

Paul Walker, Chief Executive of Sage commented, "The acquisition of Snowdrop brings to Sage a portfolio of HR and payroll software solutions for the UK mid-market, complementing our existing software solutions."

The Sage Group plc is a leading global supplier of business management software solutions and related products and services, principally for small to medium-sized enterprises. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and now employs over 13,000 people worldwide.

Snowdrop Systems Limited was founded in 1991 by Human Resources and IT specialists to deliver effective software solutions to support the HR function. Snowdrop designs & develops solutions that manage the entire employee life-cycle from recruitment & personnel to training & development & succession planning. It has become one of the top suppliers of HR software & services and has enjoyed strong, stable growth. Snowdrop's clients include Pret A Manger, Ofcom and Wates Group. 

 

Sourced From: ConnectComm