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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Societe Generale SA | TG:SGE | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.09 | 0.38% | 23.845 | 23.79 | 23.80 | 23.845 | 23.745 | 23.785 | 1,058 | 09:14:36 |
23 September 2003 Sage acquisition of South African software vendor Softline approved by Softline shareholders Further to its announcement of 1 August 2003, The Sage Group plc ("Sage") announces that its agreement to acquire Softline Limited ("Softline") has received Softline shareholders' approval. The acquisition agreement was approved at a meeting of Softline shareholders on 23 September. The acquisition is expected to complete in mid-October 2003, following receipt of final regulatory clearances. The transaction has an equity value of £66.0m (enterprise value of £54.9m). Softline is a leading provider of business management software in South Africa and Australia. The proposed acquisition of the Softline business is consistent with the Sage strategy of expanding geographically into attractive markets. Paul Walker, Sage Chief Executive, commented: "The acquisition of Softline extends our geographical presence to the attractive South African and Australian markets in which Softline is well established. It provides us with leading product brands in accounting, payroll and taxation software for small-to-medium-sized enterprises, together with a sizeable customer and reseller base." Simultaneous with this announcement, Softline has issued an announcement providing details of shareholders' vote of approval. All financial information calculated on the basis of £1 = ZAR 11.9 Enquiries: The Sage Group plc 0191 255 3000 Financial Dynamics 020 7831 3113 Paul Walker, Chief Executive Giles Sanderson Paul Harrison, Finance Director Harriet Keen Phil Branston, Investor Relations Caroline LeDosquet Notes to editors: The Sage Group plc is a leading international supplier of accounting and business management software solutions and related products and services for small to medium-sized enterprises. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and the Group now employs over 5,500 people worldwide. END
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