Sage Ireland has announced it is to acquire 100pc of competitor GFK Technology Ltd. GFK is best known for its Take Five range of accounting, retail and payroll software.
The acquisition will strengthen Sage’s market position in Ireland by adding a complementary line of accounting, retail and payroll software solutions to Sage’s market-leading accounting and business management software solutions. The combined number of registered customers will be in excess of 50,000.
“The acquisition of GFK Technology provides an exciting opportunity for Sage Ireland, ” commented Liam Mullaney, managing director of Sage Ireland. “GFK Technology has the well-known Take Five brand, excellent products, a powerful value-added reseller network and a substantial customer base. The strategic fit with our existing businesses is strong. Take Five software will continue to be marketed and supported with the stability and financial backing of Sage’s investment in Ireland,” he said.
GFK and Sage Ireland will work together on a range of marketing initiatives to promote GFK’s product range.
“This acquisition injects our successful customer-driven business model and tailored products into the Sage offering,” said Pat Downey, managing director of GFK Technology. “Our customers will be the ultimate beneficiaries of synergistic products that combine GFK’s range of Take Five accounting, retail and payroll software and Sage’s expertise in business management software solutions and services.”
Sage currently has over 46,000 customers in Ireland, 23,000 of which have annual support contracts. The company recently extended its Citywest office by 11,000sq ft at a cost of €1m and has 160 employees, compared with just eight three years ago.
By Brian Skelly
