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Financial Website Directory Ireland

Sage Acquires Brazil's Leading Accountancy Software Company - Folhamatic

Author: Niall Byrne
Category: Accounting
Date Added: June 25, 2012 09:47:06 AM
Page Views: 14207

It has been report that Sage has just acquired 75% equity of one of Brazil’s leading accountancy and tax software companies Folhamatic. Sage paid £125m (R$398m) for 75% of the equity.


Folhamatic who also supplies payroll and regulatory software to SMEs and accountancy practices in Brazil has a large following of customers that is to be estimated in the region 46,000 businesses and 13,000 firms out of a total 78,000 firms in the country.


This latest move by Sage will help its growth and present in the emerging markets.


Guy Berruyer, CEO of Sage, said: "We are delighted to announce the acquisition of a controlling interest in Folhamatic. It provides us with a market leading position in the large and rapidly growing Brazilian market.


"We are excited about the growth opportunity that the combination of Sage and Folhamatic creates in this market. Folhamatic is an outstanding business, with strong management, and we are delighted to welcome the management and staff to the group."