Sage pays £21m for Tekton the construction IT software group

Tekton, a company specialising in construction-specific IT software, has been sold for £21m to Sage.

Sage was founded in 1981. It floated on the London Stock Exchange in 1989 and has 13,000 employees worldwide, providing a wide range of business management software, much of it based on accounting systems.

Tekton’s turnover in the six months to December 2007 was £4.5m though the formal press announcement from Sage omits to state what Tekton’s profit was in that period.

Customers on Tekton’s list include Skanska UK, ISG, Kier and Taylor Wimpey.

Brendan Flattery, managing director of Sage’s Mid-Market Division, said: “Tekton will complement our offerings for construction. We recently helped over 5,000 customers manage the introduction of the new CIS.”