Peachtree 2013 Annual Report Download - page 134

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Other notes
The Sage Group plc | Annual Report & Accounts 2013 128
Financial statements
15 Discontinued operations
There are no discontinued operations in the current year. In the prior year, the results of Sage Software Healthcare, LLC (“Sage Healthcare”) was
recognised as a discontinued operation following the sale to Vista Equity Partners on 10 November 2011.
2013
£m
2012
£m
Revenue –16.5
Selling and administrative expenses –(14.4)
Operating profit –2.1
Finance costs –(0.2)
Profit on disposal of Sage Healthcare –0.9
Cumulative exchange gain in respect of the net assets of the subsidiary, reclassified from equity on disposal –55.7
Impairment of disposal group to fair value less costs to sell ––
Profit before income tax –58.5
Income tax expense –(0.7)
Profit for the year from discontinued operations –57.8
Earnings per share information can be found in note 4.1.
The cash flow statement shows amounts related to discontinued operations.
16 Acquisitions and disposals
16.1 Acquisitions made during the year
Acquisition of EBS Empresa Brasileira de Sistemas Ltda.
On 11 October 2012 the Group acquired EBS Empresa Brasileira de Sistemas Ltda. (“EBS”), a provider of accounting, business management and tax
software in Brazil, for a cash consideration of up to £11.3m, including a payment of £2.0m linked to the future financial performance. The provisional
fair value of the assets acquired was £nil, resulting in provisional goodwill of £11.3m.
Other
On 31 December 2012 the Group acquired 100% of the share capital of Tangane SAS in France for deferred consideration of £0.5m.
The net identifiable assets (including intangible assets) were recognised at their provisional fair values. The residual excess over the net assets acquired
has been recognised as goodwill. Details of net assets acquired and goodwill are as follows:
Summary of acquisitions £m
Purchase consideration
Cash 3.2
Deferred/contingent consideration 8.6
T
otal purchase consideration 11.8
Fair value of net identifiable assets –
Goodwill 11.8
132 The Sage Group plc | Annual Report & Accounts 2013