Sausage to snag SMS Consulting
- 18 May, 2000 12:49
Sausage Software announced to the ASX yesterday it has become entitled to 90.4 per cent of shares in SMS Consulting Group under its takeover offer.
Sausage will move to acquire any outstanding shares when the offer closes on May 26. The move comes after Solution 6 this week abandoned its bid to acquire Sausage in a deal reportedly worth $1.6 billion.
The company reports SMS Consulting will help it build a strong economic platform for future growth.
"The SMS acquisition creates an organisation that has the technology, skill and people to e-enable business around the world," said Sausage CEO Wayne Bos in the ASX statement.
After the acquisition, Sausage will have revenues to more than $170 million, profits of over $20 million and over 1,100 IT staff.