Sage’s stock price witnessed heightened activity on the London Stock Exchange yesterday on talk that India’s leading IT company Infosys, may be interested in acquiring the company. Reports suggest that Infosys could be in talks with Sage for buying out certain divisions of the UK company in an effort to enlarge its European business in order to reduce its dependence on the US market.
The Sage Group is a supplier of accounting, payroll, CRM and business management software for large, medium and small size enterprises. The group posted a turnover of 936 million pounds during the last calendar year. Sage is estimated to have a market capitalization of over 3 billion pounds.
CapGemini and Microsoft may also be interested in Sage, said a broker on Dalal Street.