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Mid Europa Acquires Sage Poland
09 December 2020
Mid Europa Partners ("Mid Europa"), the leading private equity
investor in Central and Eastern Europe, announced today that it has
entered into an agreement to acquire Sage Sp. z o.o. ("Sage
Poland", the "Company" or "Symfonia") from The Sage Group
plc. The transaction, which is subject to antitrust approval,
is expected to complete in early 2021.
Sage Poland is a leader in cloud business management solutions
for SMEs in Poland, operating under the well-recognised "Symfonia"
brand. The Company offers four best-in-class products (Symfonia
50Cloud, Symfonia ERP, Symfonia Kadry i Płace One Payroll and
Symfonia Start) to a diversified base of loyal clients. Symfonia
recently transitioned from a licensing model to a subscription
model, achieving robust top-line growth and enhanced
profitability.
Kerim Turkmen, Partner of Mid Europa, said: "We are delighted to
be backing Symfonia, a leading provider of business-critical
software to SMEs. The Company already enjoys exceptional brand
recognition in Poland while its market leading product portfolio
offers highly functional, reliable and modular software solutions.
We are excited to support the Symfonia team in the execution of
future strategic initiatives, including new product development and
the expansion of its cloud offering. The Symfonia acquisition
builds on Mid Europa's proven track record of investing in
CEE-rooted champions in the growth sectors of digital, technology,
online and B2B software. It adds to our existing investments in
intive, and Allegro as well as the recent acquisition of
Displate."
Marek Rodak, Principal of Mid Europa, added: "We view Symfonia
as an ideal entry point into the ERP and Payroll software market in
Poland. We look forward to supporting the seasoned management team
and driving growth organically and through acquisitions, in Poland
and internationally."
Piotr Ciski, Managing Director of Sage Poland, said: "We are
delighted to welcome Mid Europa as a strong and highly reputable
investor and look forward to working with them to lead the Company
through its next phase of growth. We believe that Mid Europa's
regional experience, local presence and sector know-how will be
instrumental to the Company's continued growth and
success."
The transaction was executed by Marek Rodak, Can Karapence,
Maciej Michalak and Adam Golos.
Mid Europa was advised by Arma Partners and VCP (M&A), White
& Case (legal), BCG and BCG Platinion (commercial & tech)
and PwC (financial & tax).
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