The deal was undertaken by Sage subsidiary Sage Software and is for the trading assets of CSM.
The company described the acquisition as ‘the final piece of the jigsaw’ and said it would allow them to offer a complete range of products to sell to the accountancy community.
Graham Wylie, Managing Director of Sage’s UK business, said: ‘The acquisition of CSM will further enhance our growing accountants division. We believe that the accountancy profession will have a pivotal role to play in the development of e-business for small and medium-sized businesses.’
Sage is assuming net liabilities of over £1m of which approximately £1.3 million relates to deferred license revenue.
As a result of the move, Birmingham-based CSM becomes a member of the Professional Accountants Division of Sage.
Meanwhile Sage has released its latest version of Sage WinForecast Professional for Windows, which is designed to help small businesses streamline their financial and budget planning.
The product has been designed to speed up the forecasting process. Its links to Sage Line 50 and Sage Line 100 accounting software also allow a speedy transfer of data from accounting to forecasting, making it easier to update business plans and reports on an ongoing basis.
Features include a ‘What if?’ analysis which allows the user to see the effect of changes in sales volumes or overhead costs and data entry screens which automatically update reports when new data is input.
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