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22 Aug 2011
BAIN CAPITAL has outbid IT giant Sage in the race to gain control over Australian finance software provider MYOB (Mind Your Own Business).
US private equity business Bain slipped in to pull the rug out from beneath Sage which, until last week, was considered the preferred bidder, the Financial Times reports.
Further reading
One reason for Sage's failed takeover attempt is the likelihood that a shareholder vote would have been needed to complete the acquisition, reports have speculated.
The Australian business is being sold by private equity firms Archer Capital and HarbourVest Partners, which bought it for around Aus$450m (£287m).
The UK arm of MYOB was acquired by publishing and software company Wolters Kluwer at the end of 2007, with all branding phased out by the end of 2008.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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