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Sage buys in Spain for £49m

13 April 2012

TECHNOLOGY company Sage has bought Grupo, a software vendor to 200,000 small businesses in Spain, for £49.1m cash.

Grupo has net cash of £6.6m, giving the acquisition an equity value of £55.7m.

Grupo made operating profits of £4.4m on revenue of £22.8m for the year to 31 December. Sage still wants to expand in Italy.

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