Heavy losses for Microsoft business division
Microsoft Business Solutions, which includes recent accounting software acquisitions Navision and Great Plains, has revealed heavy losses for the last quarter.
In filing quarterly results with the US Securities & Exchange Commission, the software giant said its business division had made losses of $68m ($43m) on revenues of $107m.
Microsoft signalled its attentions to move into the lucrative accountancy software market with the purchases of Navision and Great Plains, challenging the dominance of market leader Sage.
Danish-based Navision was bought for almost £1bn in July this year, while Great Plains was acquired in December 2000 for £750m.