Since its creation in 1981 as a provider of accounting software for small and medium-sized businesses, Sage Group has grown through acquisitions. Last year it bought Intacct, a North American cloud-based financial software maker, for £627 million, its biggest purchase to date, and Fairsail (now Sage People), a British provider of cloud-based human resources software. However, those purchases have yet to provide the lift required for the company to meet its guidance of 8 per cent revenue growth this year.
Britain’s second biggest quoted technology player yesterday reported group organic revenue growth of only 6.3 per cent in the final three months of last year, the first quarter of its 2018 fiscal year. This included an increase in organic recurring revenue of 7 per cent,