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Press release Box-ID: 56557

Sage GmbH Franklinstraße 61-63 60486 Frankfurt am Main, Germany http://www.sage.de
Contact Ms Marita Schultz +49 89 21187136
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Sage GmbH

Proposed offer by Sage for Visma

(PresseBox) (Newcastle upon Tyne, )
The Sage Group plc (“Sage”) intends to make an offer to acquire Visma ASA (“Visma”), based in Oslo, Norway and listed on the Oslo Stock Exchange, for an expected enterprise value of approximately £334 million*. The proposed offer, though subject to the completion of due diligence, is recommended by Visma’s Board of Directors.

With 200,000 customers, Visma is the largest Scandinavian vendor of business management solutions for small and medium-sized businesses. Visma’s revenues for the year ended 31 December 2005 were approximately £166 million* (2004: £145 million*). Operating profit before depreciation and amortisation was approximately £22 million* (2004: £20m*). At 31 December 2005, Visma had gross assets of approximately £197 million*.

The proposed offer for each Visma share would be NOK125 in cash. This would represent a premium of 19% to Visma’s average share price over the last 20 trading days.

In line with Norwegian regulations, Visma has today made a similar announcement to the Oslo Stock Exchange.

Svein Ramsay Goli, Visma Chairman, comments, “Our Board believes Sage represents a solid alternative for Visma, given its long-term perspective and deep knowledge of our marketplace.”

Øystein Moan, Visma CEO, adds, “As a global market leader in providing business management solutions to small and medium-sized companies, Sage will be positive for the future development of Visma. To a large extent Visma supplements Sage and there is very limited overlap in the two companies’ market positions.”

Paul Walker, Sage Chief Executive, comments, “The proposed acquisition of Visma is consistent with the Sage strategy of expanding geographically into new and attractive markets. We see significant potential to build on Visma’s leading position in the Scandinavian SME market.”

*All financial information calculated on the basis of £1 = NOK11.49

Enquiries
The Sage Group plc +44 (0) 191 294 3068
Paul Walker, Chief Executive
Paul Harrison, Finance Director
Phil Branston, Investor Relations

Tulchan +44 (0) 20 7353 4200
Kirstie Hamilton
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The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.