Latvian startup success CakeHR sells to Sage

Latvian company CakeHR achieved the dream of many a startup November 28 when it announced it had been bought by a major multinational company.

"We are excited to announce that CakeHR has been acquired by Sage Group, one of the world’s largest suppliers of enterprise resource planning software and the largest software supplier to small businesses, with over 2 million customers worldwide," said Cake HR CEO Kaspars Upmanis in a blog post.

"Being part of Sage allows us to invest across all departments. You’ll enjoy a faster platform, better support, more tools, features, and most of all – better results! Moving forward, you can expect the same level of commitment and support from us!" he told existing customers of the company which was founded in 2012.

Lee Perkins, Chief Product Officer at Sage, said: “CakeHR provides easy-to-use cloud-based HR services that help businesses drive productivity and provide great experiences for their people. As with our recent acquisition of AutoEntry, we have been hugely impressed with the people and technology at CakeHR, particularly their ability to enable employees to self-manage, and are delighted to welcome them to Sage.”

The value and terms of the deal were not disclosed.

Last year LSM met CakeHR for lunch - and you can read about it in our story from the time.

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