Sage Group said Monday it has acquired a 51 percent majority share of the Elit Group, a French company that makes business process management software for the transportation and food industries.The British software company said it will pay 7 euros (US$8.89) per share. The cash deal is valued at 10.8 million pounds (US$20 million). Per French regulations, Sage will make an offer to Elit shareholders for the remaining shares.Elit’s management software is for medium-size businesses. For its fiscal year that ended June 30, Elit reported a loss of 500,000 pounds on revenue of 18.4 million pounds. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe Sage Chief Executive Officer Paul Walker said in a statement the controlling interest in Elit will expand Sage’s range of industry-specific software in the middle market. Sage produces accounts, payroll and CRM software for small to medium-size enterprises. For fiscal 2005, Sage reported a profit of 143.5 million pounds.-Jeremy Kirk, IDG News Service (London Bureau) Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content feature The year’s top 10 enterprise AI trends — so far In 2022, the big AI story was the technology emerging from research labs and proofs-of-concept, to it being deployed throughout enterprises to get business value. This year started out about the same, with slightly better ML algorithms and improved d By Maria Korolov Sep 21, 2023 16 mins Machine Learning Machine Learning Artificial Intelligence opinion 6 deadly sins of enterprise architecture EA is a complex endeavor made all the more challenging by the mistakes we enterprise architects can’t help but keep making — all in an honest effort to keep the enterprise humming. By Peter Wayner Sep 21, 2023 9 mins Enterprise Architecture IT Strategy Software Development opinion CIOs worry about Gen AI – for all the right reasons Generative AI is poised to be the most consequential information technology of the decade. Plenty of promise. But expect novel new challenges to your enterprise data platform. By Mike Feibus Sep 20, 2023 7 mins CIO Generative AI Artificial Intelligence brandpost How Zero Trust can help align the CIO and CISO By Jaye Tillson, Field CTO at HPE Aruba Networking Sep 20, 2023 4 mins Zero Trust Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe