Britain’s Sage Group PLC, parent of Orange County’s largest software company Sage Software Inc. in Irvine, on Tuesday reported higher earnings and revenue growth from acquisitions.
Sage also said it’s making another acquisition in the U.S., which slightly trailed overall growth for the latest six-month period.
The company reported a profit of $137 million for the six months ended March 31, up 19% from the year-ago period.
The global software company helps small to midsize businesses with their accounting and other business operations.
Sage posted revenue of $798 million during the six months, up 18% from the year-ago period.
Much of the growth came from acquisitions with just 5% coming from the company’s existing operations.
North America sales from Irvine came in at $287 million for the six months, up 6% from the year-ago period.
Excluding a one-time gain from a sale, North American growth was 4%.
Sage continues to focus on the North American market with acquisitions.
The company said it is buying Mountain View-based Intuit Inc.’s Master Builder product.
The software is seen adding to the company’s Sage Timberline Office, which provides accounting, estimating and operations management software for the construction and real estate industries.
Terms of the deal were not disclosed.
In January, Sage said it was spending $325 million to buy Nashville-based Verus Financial Management Inc.
Verus, which makes credit card and check processing software, became the North American merchant services division of Sage Software in Irvine.
Sage’s stock slipped 5% in trading Tuesday in London as investors fretted about the slower-than-expected growth without acquisitions, according to Reuters.
