Sage acquires XRT, leading European treasury management software company

The Sage Group plc, a leading global supplier of business management software solutions, announced the acquisition of 70% of the share capital of XRT, listed on Euronext Paris, from its shareholders.

Sage will purchase the shares for a consideration of GBP 30 mln, paid in cash, equivalent to €1.67 per share. The transaction is not subject to any conditions and should complete within the next few days. In accordance with French listing regulations, following acquisition of 70% of the share capital, Sage will make an offer to acquire the remaining outstanding shares from shareholders.

XRT is a leading supplier of treasury management software and payment software for medium-sized businesses in France, Spain, Portugal, Italy and Latin America. XRT’s software solutions enable thousands of organizations worldwide to centralise cash flow information, streamline key business processes across the organization, and automate financial communication with banking and business partners. Combined with ERP systems, XRT’s software enables its 6,000 customers to carry out end-to-end straight-through processing and electronic payments around the globe.

In the year ended 31 December 2006, XRT’s revenues were GBP 22.2 mln.

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.

XRT is a leading supplier of treasury management and payment software to over 6,000 customers worldwide. Founded in 1983, XRT floated in 1996 on the “Second Marche” of the Paris Stock Exchange.