Sage Group to acquire Snowdrop for 17 mln pounds

New Delhi, May 13: The Sage Group Plc, a leading global supplier of business management software solutions will acquire Snowdrop Systems Limited from its shareholders for 17 million pounds in an all cash deal.

''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,'' Sage Chief Executive Paul Walker said.

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

The company 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 pounds and EBITA of 1.1 million pounds.

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 and employs over 13,000 people worldwide.

UNI