Sage make Brazilian acquisitions
Software giant Sage has made a double acquisition in Brazil, buying two accounting software specialists in the country.
The move was made through Sage’s Brazilian subsidiary, Folhamatic Tecnologia em Sistemas S.A.
Sage will now take over EBS Empresa Brasileira de Sistemas Ltda, a provider of accounting, business management and tax software for £10.6m; and Cenize Informática Ltda, an accounting software business for a cash consideration of up to £3.9m.
EBS is headquartered in the state of Paraná in Southern Brazil, and has a customer base of approximately 4,000.
Cenize provides products to over 7,000 small and micro businesses in Brazil, and attractive market for Sage with significant growth potential.
Guy Berruyer, CEO 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.”
The acquisitions will be integrated into the Folhamatic business, which was acquired by Sage in June.