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Sage Poland, an IT company specialising in production of ERP software, is taken over by Mid Europa Partners – an independent private equity player, specialising in investments in the Central and Eastern Europe. Within the key transaction, the investor is to pay about PLN 322m for the purchase of the Polish branch of Sage in the beginning of 2021.
Mid Europa with experience on the Polish market
Mid Europa Partners is a private equity investor in Central and Eastern Europe, founded in 1999 with a headquarters in London. Other offices are located in Warsaw, Bucharest, Istanbul, and Budapest. The funds are estimated at about EUR 5,3bn. The corporation already has experience with Polish businesses, as during past years it invested in companies such as Żabka, Allegro, Hortex, and Luxmed.
Sage Poland as a strong link
The next target for the Mid Europa’s fund is Sage Poland – a business from The Sage Group plc, which specialises in production of ERP software for both small and medium Polish companies. Its offer includes four main product lines: Symfonia Start, Symfonia 50Cloud, Symfonia ERP as well as Symfonia Kadry i Płace One Payroll. The involvement of Mid Partners in the activities of the Polish company, before all, aims to accelerate development of the Symfonia line software and services offered in the cloud computing model.
The purchase of Sage Poland is a promising prospect
The takeover of the Polish branch of Sage and the Symfonia brand is primarily based on years of experience in Mid Europa’s investments with sectors of digital, technological, internet or B2B software. Transaction worth around GBP 66m (PLN 322m) is about to be completed in the beginning of 2021.
Marek Rodak, the director of Mid Europa Partners, claims that Symfonia is an ideal point of entry to the market of ERP and accounting software in Poland. Thanks to the takeover, Sage Poland will gain support in developing new products and broadening its offer in the cloud.