Sage Group, a provider of business management software, announced the acquisition of Intacct for $850M. Intacct offers a cloud-based financial management and accounting application software platform. The acquisition will enable Sage to gain a larger market share, particularly in the U.S, and to further build their cloud-based financial management platform.
Sage Group has made two other tuck-in acquisitions this year, including Compass and Fairsail ($14.5M), aimed to fill out the Sage Business Cloud. Intacct represents Sage’s largest reported acquisition to date.
Brief Transaction Details:
|Enterprise Value (mm)||$850.0|
|TTM Seller Revenue (mm)||$87.6|
|TTM Revenue Multiple||9.7x|
Seller Business Descriptions:
Intacct provides financial management and accounting applications for businesses and CPA firms. HQ: San Jose, CA.
Buyer Business Description:
Sage Group develops and distributes business management software for small and medium sized businesses. HQ: Newcastle upon Tyne, U.K. See Press Release