Peachtree 2012 Annual Report Download - page 19
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Now the sixth largest economy in the world,
Brazil represents an attractive market with
robust macro-economic fundamentals and
a favourable, highly complex tax and
regulatory environment. Our entry into the
Brazilian market represents an important
step in building our presence in key
high growth markets, enabling a strategy
focused on growth and a disciplined
approach to returns.
In June 2012 we entered Brazil with
the acquisition of a controlling interest
in Folhamatic, a leading provider of
accounting, tax and payroll and regulatory
content software. We are excited about the
growth opportunity that the combination of
Sage and Folhamatic creates in this market.
It provides us with a market leading
position in the large and rapidly growing
Brazilian market.
In September 2012 we progressed our
strategy of expanding our footprint in
Brazil with the acquisitions of EBS and
Cenize. These businesses are high growth,
with recurring revenue models and are
focused on core accounting customers.
Sixth largest
economy in
the world*
These acquisitions are in line with our
strategy of expanding our footprint in Brazil.
They are also highly complementary to our
core business and extends the geographic
breadth of our offering, particularly in the
São Paulo and Southern region.
…entry into the Brazilian market
represents an important step
in building our presence in key
high growth markets, enabling
a strategy focused on growth
* Source: The Economist Intelligence Unit
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The Sage Group plc | Annual Report & Accounts 2012
Financial statements Governance Performance Overview