British software maker Sage Group PLC said Tuesday it plans to make the biggest acquisition yet for its Irvine-based North American operations.
Sage has agreed to pay about $565 million in cash for Tampa-based Emdeon Practice Services, which makes software to manage doctors’ practices. Emdeon is part of Elmwood Park, N.J.-based Emdeon Inc.
The deal is expected to close in September. Emdeon will be folded into Sage’s North American operations when the deal is completed.
Emdeon Practice Services posted revenue of $304.5 million in 2005, up 3% from a year earlier.
Sage is Orange County’s largest software maker by sales with nearly $600 million in annual revenue.
“The addition of this focus in the healthcare sector will be an excellent complement to our existing strengths in such industries as construction, real estate, distribution, manufacturing and nonprofit,” said Ron Verni, chief executive of Sage in North America.
