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Technology / AI and automation

STERLING BOOSTS REVENUES WITH ACQUISITIONS

Sterling Software Inc, the Dallas-based systems and applications management software company has ended its financial year with a strong revenue boost from acquisitions. Net profits in the fourth quarter to September 30 fell 30.5% at $24.4m while revenue rose 35.5% to $170.8m but the 1996 comparatives include a deductible $13.7m of profits from the Sterling Commerce division which was spun off at the end of September last year. Excluding this amount, Sterling grew income from continuing businesses by 14%. Sterling’s Applications Management business, which absorbed the sizable Texas Instruments Software at the end of June this year for $165m (CI No 3,145), became the largest segment in the group with revenues up 187% to $77m. Because the Texas Instruments deal was accounted for as an acquisition, comparative revenue figures do not include TI Software. The Systems management business grew revenues by a more realistic 11% to $58m over the same period. Earlier in the week, Sterling announced it is to acquire the assets of Phoenix Network Technologies Inc for an undisclosed sum. Phoenix owns a cross platform bridging software package called Diplomat which Sterling intends to dovetail into its own product line.

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CBR Staff Writer

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