The deal has been valued at £62.5m, which Sage will pay for in cash subject to regulatory approval, and should be completed by February.
Sage chief executive Paul Walker said the move would greatly strengthen the company’s position in the Canadian and US markets, while complementing its existing operations in Australia and South Africa. ‘ACCPAC’s CRM offering extends the options available to those of our customers seeking to purchase front office solutions,’ Walker commented.
ACCPAC offers business management software solutions to SME’s, focusing mainly on accounting and CRM products. Its 500,000 customers are based primarily in the US, Canada, South Africa, Australia and Singapore.
Sage expects its recent acquisitions of Timberline and Grupo SP to have a ‘positive effect’ on its 2004 figures, and will no doubt hope for a similar result from its latest purchase.
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses