UK Software Provider Buys Brazil Stake

UK Software Provider Buys Brazil Stake

Brazil Europe M&A

British enterprise software provider Sage Group has purchased a 75% stake in Brazil’s Folhamatic Group for GBP125m ($197m), it says. It will pay GBP101m upfront and a GBP24m performance-driven earn-out on 2012 targets, and a put and call agreement is in place for 2015 for the remaining 25%, based on 2014 performance. “This appears a well structured deal, and Sage has not overpaid for what could become an important seed asset into LatAm,” says a Deutsche Bank report. It and other shops find an im

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