UK ERP Software group Sage has launched a public tender offer to acquire Poland's Teta. for an value of about £41m.
Teta provides enterprise resource planning software to medium and large -sized companies. If the tender offer gets the goahead , Sage will become the leading provider of business management software across Eastern Europe gaining a portfolio of 2000 customers across Poland and Hungary.
Teta’s revenue for 2009 was £21m and EBIT £3m, with net assets of £22m.
CEO Paul Walker said the proposed acquisition complemented the group's existing business in Poland and would allow it to develop its offerings in the attractive Eastern European markets.